Hey can I please get some help?
1 answer:
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The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.
Step-by-step explanation:
The given is,
Future value, F = $15,000
Interest, i = 5.9%
( compounded continuously )
Period, t = 12 years
Step:1
Formula to calculate the present with compounded continuously,
...............(1)
Substitute the values in equation (1) to find the P value,
( ∵
)
( ∵
)
We change the P (Present value) into the left side,
≅ 7389.43
P = $ 7389.43
Result:
The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.
Question 1.) 267.935:39=
Answer 1.) 6.870 approximately
Question 2.) 689.354:78
Answer 2.) 8.838 approximately
Question 3.) 96.873:56
Answer 3.) 1.730 approximately
Explanation : Since the numerators are expressed in thousandths, the answers must be expressed in thousandths too.
Hope this helps!