A company received a total of $75,000 over a period of 5 years on an initial investment of $15,000. What is its annualized ROI?
1 answer:
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Answer:
<em>29 minutes more</em>
Step-by-step explanation:
Let m represent minutes
changing the statement to algebra, since the second company charges a different rate at night and weekend we have the equation below;
$19.99 + $0.35m > $29.99
Subtract 19.99 from both sides to isolate m and we have;
$19.99 -$19.99 + $0.35 > $29.99 - $19.99
= $0,35m > $10.00
Divide both side by 0.35 to obtain the value of m;
>
= m > 28.57
<em>m ⩾ 29 minutes</em>
<em>The second company's will be twenty nine minutes or more costlier than the first company</em>