You have $1200 to deposit into an account that pays 4.5% interest compounded continuously. How
1 answer:
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Answer:
Step-by-step explanation:
AC is the geometric mean. Solve it using this proportion:
Now fill in the values we know:
Cross multiply to get
That means that
AC = , which, in decimal form is
AC = 11.40175425
Answer: $18
Step-by-step explanation:
Let x= Pretax price of the meal.
Given: Sales tax = 8%
Tip percent = 20%
As per given ,
Amount spent = ( Pretax price) + (Sales tax ) of (Pretax price) + (Tip percent)of (Pretax price)
= x+ 8% of x + 20% of x
= x +0.08+0.20x
= 1.28x
∵ Amount spent = $23.04
So,
Hence, the pretax price of the meal= $18.