Problem #3 Carey and Larry both earned the same amount of money mowing lawns. Larry spent $9.75 on a game app. Now they have $21
1 answer:
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*see attachment for clearer diagram
Answer:
16.5
Step-by-step explanation:
BC = 11
AB = 3
Area of the shaded region = area of ∆AEB + area of ∆CED
Area of a triangle is given as,
A = ½*base*height
Find the area of each triangle and add together
✔️Area of ∆AEB = ½*bh
Where,
base (b) = 3
height (h) = ½(BC) = ½(11) = 5.5
Area of ∆AEB = ½*3*5.5 = 8.25
✔️Area of ∆CED = ½*bh
Where,
b = 3
h = ½(BC) = ½(11) = 5.5
Area of ∆CED = ½*3*5.5 = 8.25
✅Area of the shaded region = area of ∆AEB + area of ∆CED
= 8.25 + 8.25
= 16.5
Given:
Future Value = $15,000
time (t) = 11 years
rate (r) = 4.4% or 0.044
number of conversions per year (m) = 365
Find: Initial amount or the Principal
Solution:
Formula for Compound Interest is:
From that, we can derive the formula for the Principal or the initial amount.
Let's plug in the given data above to the formula of the principal value.
Then, solve for P.
Answer: You must invest $9, 244.97 to the account in order to get $15,000 after 11 years.