Answer: After 7 years, the value of the sailboat is $3045.49.
Step-by-step explanation:
Since we have given that
Original value of the sailboat = $9500
Depreciation rate = 15%
Number of years = 7
As we know the formula for "Compound Interest "i.e
where,
A denotes Amount
P denotes original value
r denotes rate of depreciation,
n denotes number of years.
So, our equation becomes ,
Hence, after 7 years, the value of the sailboat is $3045.49.
If I earned $2 more than Andrew at the end of the day, then the value of t is
Number of hours that I used to work = 1 hour
My hourly pay = $3t - 3
My total pay at the end of the day = Number of hours x hourly pay
My total pay at the end of the day = 1 (3t - 3)
My total pay at the end of the day = $ 3t - 3
Number of hours that Andrew used to work = 3t -5 hour
Andrew's hourly pay = $2
Andrew's total pay at the end of the day = Number of hours x hourly pay
Andrew's total pay at the end of the day = 2 (3t - 5)
Andrew's total pay at the end of the day = $ 6t - 10
At the end of the day, I earned $2 more than Andrew
My total pay = Andrew's total pay + 2
3t - 3 = 6t - 10 + 2
6t - 3t = -3 +10 - 2
3t = 5
t = 5/3
If I earned $2 more than Andrew at the end of the day, then the value of t is
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