Answer:
$1,592.74
Martha will need to pay $1,592.74 more
Step-by-step explanation:
Using the compound interest/inflation formula;
A = P(1+r)^(t)
Where;
A = final value
P = initial value = $10,000
r = inflation rate = 3% = 0.03
t = time = 5 years
Substituting the values;
A = $10,000(1+0.03)^(5)
A = $11592.740743
A = $11,592.74
How much more will Martha need to save;
C = final value - initial value = A - P
C = $11,592.74 - $10,000
C = $1,592.74
Martha will need to pay $1,592.74 more
We can solve this by setting up 2 equations. We can use any letters like. For now, I'll use x and y.
So now we know that x - y = 0.7 and x + y = 1.
Now we can eliminate one of the letters by adding or subtracting one equation from the other. I am going to eliminate y by adding the two together (the y and the -y cancel).
This gives us 2x = 1.7, and so x = 1.7 ÷ 2 = 0.85
Finally, we can substitute x for 0.85 back into one of the original equations to figure out what y equals. I'm going to use x + y = 1.
So now we have 0.85 + y = 1, so y = 1 - 0.85 = 0.15
The numbers, therefore, are 0.85 and 0.15 (you can check by using the other equation).
Hope this helps!
Answer:
sure but can you answer my previous answer if you know it ;)
Step-by-step explanation:
Answer:
<em>Answer is</em><em> </em><em>given</em><em> </em><em>below with explanations</em><em>. </em>
Step-by-step explanation:
<em>HAVE A NICE DAY</em><em>!</em>
<em>THANKS FOR GIVING ME THE OPPORTUNITY</em><em> </em><em>TO ANSWER YOUR QUESTION</em><em>. </em>
Step-by-step explanation:
2×10,000 + 8×1000 + 5×100+6×10+1
