How much should you invest at 4.8% compounded continuously to have $5000 in 2 years?
2 answers:
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Answer: 348.8 miles on 16 gallons of gas
Step-by-step explanation:
Make the following proportion:
=
Since the car consumes gas at the same rate and only the amount of gas is changed, these two fractions must be equivalent. If the rate at which the car consumes gas changes, it would be different.
Use basic algebraic skills and you should get 348.8 miles.