Kim is 12 years old. If her age is 25% of her mother’s age, how old is her mother?
2 answers:
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Answer:
The continuous yearly interest is 22.5% per year.
Step-by-step explanation:
Continuous yearly interest:
Continuous yearly interest is defined as the sum of the interest comes from principle and the interest comes from interest.
The formula for continuous interest yearly is
where A = The final amount =$110,000
P= principle =$4,700
r= rate of interest
t= time (in year)= 14 years
Taking ln both sides
(approx)
The continuous yearly interest is 0.225 = 22.5% per year.
Answer:
15,894.06
Step-by-step explanation:
HI there!
This is a compound interest question, so we will use the formula
P being our principle amount, $15,000 in this case,
R being our rate, or 1.25
N being our compound rate, which is semiannually, or twice a year.
T is our time, being 3.
After plugging these values in, we get
15,894.06
I hope this helps!