Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Compounded monthly n = 12
To determine:
Using the formula
substituting A = 1000000, r = 0.06, t = 45, and n = 12
$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
I did the problem myself and my teacher always said thatif you don't get the exact answer then round to the closest one. The answer that i got was 31,808.6, the closest one to that would be letter C.
Answer: Time at which the meet = 10:17:24 am
Step-by-step explanation: Speed of Ivan = 12 mph
Speed of Kate = 16 mph
Total distance traveled = Initial separation = 40 miles
Ivan leaves his house at 8:00 a.m and Kate leaves her house at 9:30 a.m
If t is the time of catch up after Ivan starting, time taken by Kate is t - 1.5,
We have
Distance = Speed x Time
Total distance traveled = Distance traveled by Kate + Distance traveled by Ivan
40 = t x 12 + (t-1.5) x 16
40 = 28t - 24
28t = 64
t = 2.29 hours
So after 2.29 hours of Ivan's starting they meet,
Time = 8:00 am + 2.29 hours = 10:00 am + 0.29 x 60 minutes = 10:17am + 0.4 x 60 seconds = 10:17:24 am
Time at which the meet = 10:17:24 am
82% = 82/100
38/50 = 76/100
Average of 76 and 82 = 79
Getting a score of 38 out of 50 will hurt his grade, as it will bring the average down to 79%
