Step-by-step explanation:
1.5 mi = 2 and 1/4 min
In 43 minutes:
43 ÷ 2.15 = 20 2.15 = 2 and 1/4 min
Now you have to multiply 1.5 by 20
1.5 x 20 = 30
In 1 hour (60 minutes):
60 ÷ 2.15 = 27.9
Now you have to multiply 1.5 by 27.9
1.5 x 27.9 = 41.85
Hope this was helpful :)
4 1/5 + b = 9 3/5
4 1/5 - 4 1/5 + b = 9 3/5 - 4 1/5
(taking the same amount from each side to keep it balanced)
0 + b = 5 2/5
(subtracting 4 1/5 from each side)
b = 5 2/5
Answer:
.
Step-by-step explanation:
Current amount in account
P=36948.61
Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n
Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11
We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000
We can solve this by trial and error.
The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000. It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.
So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.
So it takes 15.00 years to reach the goal of 280000 years.
