108=103e^(5k)
108/103=e^(5k) take the natural log of both sides
ln(108/103)=5k
k=ln(108/103)/5
k≈0.00948
P=103e^(12*0.00948)
P≈115 million (to nearest million)
Yes it is. However if it has a variable you usually call it a function
Answer:
No the pay rates are not equivalent.
Step-by-step explanation:
Your pay rate per 8 hours is $56.
Your friends pay rate per 8 hours is $72.
In one year
1 + (23/100) = (1 + x)^12
1 + 0.23 = (1 + x)^12
(1 + x)^12 = 1.23
1 + x = 1.23^(1/12)
x = 1.23^(1/12) - 1
x =~ 0.017400841772181508280113627030242
That's about 1.74% per month (which is about 20.881% per year), compounded monthly, to equal 23% per year, compounded annually.
So I believe you can write
<span>I=(1+.0174<span>)<span>12t</span></span></span>or<span><span>I=<span>1.0174<span>12t</span></span></span></span>
