Top box: 312
Second box : 520
Answer box : 832
Final answer box : 8.32
He would need to save $4 for 8 weeks.
Start with ratio 2 : 3
2 : 3
[2×2] : [3×2]
4 : 6
The ratio 2 : 3 is equivalent to 4 : 6 because we multiply both '2' and '3' by the same multiplier '2' to get 4 : 6
4 : 6
[4×2] : [6×2]
8 : 12
The ratio 4 : 6 is equivalent to 8 : 12 because we multiply both '4' and '6' by the same multiplier '2'
We worked out earlier that 2 : 3 = 4 : 6, and since 4 : 6 = 8 : 12, we can conclude that 2 : 3 = 4 : 6 = 8 : 12
Make them have common denominators: 14/8(3/3)=42/24, 15/12(2/2)=30/24, 42/24+30/24. Add numerators: 42+30=72, 72/24. Simplify: 72/24=3, 24/24=, 3/1=3. 3 is your answer :)
The value after 20 years is $ 723.514
<em><u>Solution:</u></em>
<em><u>Formula for Amount compounded annually is as follows:
</u></em>
Where,
"A" is the total amount
"p" is the principal sum
"r" is the rate of interest
"n" is the number of years
From given question,
p = $ 300
r = 4.5 %
n = 20 years
Substituting the values we get,
Thus value after 20 years is $ 723.514