Answer:
At an interest rate of 4.5% compounded annually, it will take 16.17 years to reach $17,323.-
Step-by-step explanation:
Giving the following information:
Present Value (PV)= $8,500
Future value (FV)= $17,323
Interest rate (i)= 4.5%
<u>To calculate the time required for the investment to reach the objective, we need to use the following formula:</u>
n= ln(FV/PV) / ln(1+i)
n= ln(17,323/8,500) / ln(1.045)
n= 16.17 years
At an interest rate of 4.5% compounded annually, it will take 16.17 years to reach $17,323.-
Answer:
20 times
Step-by-step explanation:
We know that the recipe requires an eighth of a cup of flour (1/8 or 0.125) but in total Steve has 2 and a half, that is (2 1/2 or 2.5). To know the result we must divide the total amount by what is needed for 1 recipe, that is:
2.5 / 0.125 = 20
Which means that Steve with the flour he has can make the same recipe a total of 20 times
Harvey would need to multiply the first equation by -2 and the second equation by 7.
You can tell this by looking for the least common multiple of each x coefficient. Below are the multiples of both numbers.
7: 7, 14, 21, 28, 35, 42
2: 2, 4, 6, 8, 10, 12, 14, 16, 18
You'll notice that the first number to appear in both lists is 14. So we must multiply so that one x is 14 and the other is -14. To do this, we know we must multiply 7 by -2 and 2 by 7. This will give us the desired result. You can solve for y after that.