Answer:
18.7 years
Step-by-step explanation:
This is a compound interest problem and the following variables have been given;
Principal = 4000; this is the amount o be invested
APR = 9%; this is the compound interest to be earned
Accumulated amount = 20,000
We are required to determine the duration in years. We apply the compound interest formula;
The next step is to introduce natural logarithms in order to determine n;
The number of years required is thus 18.7 years
Answer:
The hotel charge in each city before tax was <u>$5125</u> of the first city and <u>$3625</u> of the second city.
Step-by-step explanation:
Given:
A theater group made appearances into cities the hotel charge before tax and the second city was 1500 higher than the first.
The tax of the first city was 6% and the tax of the second city was 10%.
Total hotel tax paid for two cities with $670.
Now, to find the hotel charge in each city before tax.
Let the hotel charge in first city before tax be
And the hotel charge in second city before tax be
<em>So, as the hotel charge of the second city was 1500 higher than the first.</em>
<em>Thus</em>,
........(1)
<em>And as given, the tax of the first city was 6% and the tax of the second city was 10%, total hotel tax paid for two cities with $670.</em>
6% of + 10% of
= $670.
Substituting the value of from equation (1) we get:
<em>Adding both sides by 150 we get:</em>
<em>Dividing both sides by 0.16 we get:</em>
<em>The hotel charge in first city before tax = $5125.</em>
Now, substituting the value of in equation (1) we get:
<em>The hotel charge in second city before tax = $3625.</em>
Therefore, the hotel charge in each city before tax was $5125 of the first city and $3625 of the second city.