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enot [183]
2 years ago
14

Ming rented a bike from Castel's Bikes. It

Mathematics
1 answer:
Marina CMI [18]2 years ago
5 0

Answer:

Ming rented the bike for 8 hours. Hope this helps!

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1000 was invested at 5.5% interest, compounded annually. After sometime the amount had grown to 1550. How long was the money inv
scZoUnD [109]

compound interest equation for annually compounded

A=P(1+r)^t

A=final amount

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A=1550

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ln(1.55)=t(ln(1.055))

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using a calculator, we get that t=8.18544 yrs

so about 8.2yrs

4 0
2 years ago
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