$87.00/5 is $17.4 dollars
Answer:
$1,800
Step-by-step explanation:
If Mo pays 1/2 of the rent then he is paying 50%. Charlie is paying another 25%. This leaves the remaining 25% that Andy pays. Since Andy's payment amount is 450 then that means that 450 is equal to 25% of the total rent. Therefore, we simply need to multiply this amount by 4 to get the 100% of the overall rent.
450 * 4 = $1,800
Finally, we can see that the total rent amount is $1,800
Answer:
It'll take 38.3 years to obtain the desired return of $25,000.
Step-by-step explanation:
In order to solve a continuosly coumponded interest question we need to apply the correct formula that is given bellow:
M = C*e^(r*t)
Where M is the final value, C is the initial value, r is the interest rate and t is the time at which the money was applied. Since he wants an return of $25,000 his final value must be the sum of the initial value with the desired return. So we have:
(25000 + 8000) = 8000*e^(0.037*t)
33000 = 8000*e^(0.037*t)
e^(0.037*t) = 33000/8000
e^(0.037*t) = 4.125
ln[e^(0.037*t)] = ln(4.125)
t = ln(4.125)/(0.037)
t = 1.4171/0.037 = 38.2991
t = 38.3 years
