Answer: he should invest $16129 today.
Step-by-step explanation:
Let $P represent the initial amount that should be invested today. It means that principal,
P = $P
It would be compounded annually. This means that it would be compounded once in a year. So
n = 1
The rate at which the principal would be compounded is 7.6%. So
r = 7.6/100 = 0.076
The duration of the investment would be 6 years. So
t = 6
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years.
A = 25000
Therefore
25000 = P(1+0.076/1)^1×6
25000 = P(1.076)^6
25000 = 1.55P
P = 25000/1.55
P = $16129
Answer:
10 and 11
Step-by-step explanation:
Let the first integer be x.
Then the next one, since it's consecutive, must be (x+1).
The two equals 21. Thus:
Combine like terms:
Subtract 1 from both sides:
Divide both sides by 2:
So, the first integer is 10.
And the second integer is 10+1=11.
Answer:
16.4
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