The Hawks are starting a babysitting business. They charge an initial deposit of $25 and a rate of $4 an hour. A linear model is
1 answer:
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Answer:
"$ 2,880" is the right answer.
Step-by-step explanation:
The given values are:
Annual deposit,
PV = $1,800
Interest rate,
r = 2%
or,
= 0.02
As we know,
⇒
On substituting the values, we get
⇒
⇒
⇒
⇒ ($)
First, let's convert the mixed fraction into an improper fraction (trust me, mixed fraction are pretty much the worst things to deal with, especially with higher level math):
Then, to subtract, since you need a common denominator, I would multiply the second fraction by 2 to get:
Now that we have a common denominator, we are ready to subtract:
Since that's the most simplified form, and you have been asked the question in a mixed fraction form, let's convert that to a mixed fraction. The remainder of the numerator divided by the denominator is 1, and the quotient is 3. The denominator stays the same. So, this is what results:
And that's your answer:
Hope this all makes sense. If anything doesn't, feel free to tell me!
Then, to subtract, since you need a common denominator, I would multiply the second fraction by 2 to get:
Now that we have a common denominator, we are ready to subtract:
Since that's the most simplified form, and you have been asked the question in a mixed fraction form, let's convert that to a mixed fraction. The remainder of the numerator divided by the denominator is 1, and the quotient is 3. The denominator stays the same. So, this is what results:
And that's your answer:
Hope this all makes sense. If anything doesn't, feel free to tell me!