Current amount in account
P=36948.61
Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n
Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11
We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000
We can solve this by trial and error.
The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000. It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.
So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.
So it takes 15.00 years to reach the goal of 280000 years.
For this case we have two options:
Option A:
Tomato juice, 48 oz. can for $ 2.49.
The unit price is:
(2.49) / (48) = 0.05 cents per oz.
Option B:
Tomato juice, 6-pack of 10 oz. cans for $ 3.99.
The unit price is:
(3.99) / (6 * 10) = 0.07 cents per oz.
Answer:
The best buy would be:
Tomato juice, 48 oz. can for $ 2.49.
Answer:
145%
Step-by-step explanation:
Answer:
50
Step-by-step explanation:
Use this equation
where b is arc VY, A is arc XV.
Substitute the equation in
so our arc measure is 50
Here, Coordinates: (4, 5) & (8, 9)
Calculation of Slope, m = y2-y1 / x2-x1
m = 9-5 / 8-4
m = 4 / 4
m = 1
Now, Take any coordinate:
y - y1 = m(x - x1)
y - 5 = 1(x - 4)
y - 5 = x - 4
y = x + 1
In short, Your Answer would be: y = x + 1
Hope this helps!
