Answer:
$ 50,340.97
Step-by-step explanation:
From the above question, we can deduce that we are to find the Initial amount invested which is also called the Principal.
The formula to find Principal in a compound interest question is:
P = A / (1 + r/n)^nt
Where:
A = Total Amount obtained after invested = $80,000
r = Interest rate = 3.1% = 0.031
n = number of times interest in compounded = Quarterly = 4
t = time in years = 15
P = $80,000/(1 + 0.031/4)^4 × 15
P = $80,000/(1 +0.00775)^60
P = $ 50,340.97
Hence, James would have to invest $50,340.97 today to have $80,000 in 15 years.
Answer:
The distance between Harry’s home and his office? is 15 miles.
Step-by-step explanation:
The speed, distance time formula is:
Given:
Speed (<em>s</em>) = 30 miles/hour
Then the relation between distance and time is:
If Speed was 60 miles/hour the time taken is 
hours.
Then the relation between distance and time is:
Use the value of <em>d</em> = 30t in (ii)
<em />
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Determine the distance as follows:
Thus, the distance between Harry’s home and his office? is 15 miles.
Answer:
Step-by-step explanation:
Step-by-step explanation:
the correct answer is
discount price=(original price)(1-0.12)
let's suppose the original price is $10 then the discounted price will be
(10)(1-0.12)=10(.88)=$8.8
