The solutions are
- it is going to take 15.9 months to raise 10000 dollars
- You will have $37.31 after you have bought the car
- The money deficit would be $37.31
<h3>How to solve the question</h3>
a. 10000 = 9359.08e(0.05)
e⁰⁰⁵ = 10000/9359.08
= 0.05 = ln(10000/9359.08)
= 1.325 years
convert to months = 15.9 months
Hence it is going to take 15.9 months to raise 10000 dollars
b. 9359.08 x e^(0.05 x1.25)
= 9962.69
10000 - 9962.69
= $37.31
You will have $37.31 after you have bought the car
c. The money loss and the deficit would be same as above $37.31
d. ln(e^a) = a
We can clearly see that the money cannot be raised in the 15 months from $ 9359.08. there is a deficit amount of $37.31
Read more on compound interest here: brainly.com/question/24924853
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<em><u>Hope </u></em><em><u>it</u></em><em><u> </u></em><em><u>helps</u></em>
<em><u>~ʆᵒŕ∂ཇꜱꜹⱽẻⱮë</u></em>
