Easy answer, Neighborhood Bank. But to see how:
$7,500 * 0.015 (1.5%) = $112.50
$112.50 a day times 360 days = $40,500
$40,500 times 20 = $810,000.
$810k times 20 = $16,200,000. (16.2mil)
$112.50 times 20 = $2,250.
So..
Answer:
The growth rate he needs to achieve his goal is approximatelly 19.8%
Step-by-step explanation:
Since the sum will be compounded continuously we have to use the appropriate formula given below:
M = C*e^(r*t)
Where "M" is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed. Since Sung Lee will invest that sum at 18 years old and he wants to recieve the return at 25, then the time elapsed is given by 25 -18 = 7 years. We can now apply the data to the formula:
16000 = 4000*e^(r*7)
4000*e^(7*r) = 16000
e^(7*r) = 16000/4000 = 4
ln[e^(7*r)] = ln(4)
7*r = ln(4)
r = ln(4)/7 = 0.198
The rate of interest is given by (r)*100%, so we have (0.198)*100% = 19.8%.
Answer:
(.24329, .3734)
Step-by-step explanation:
1-propzint
n=334
x=103
c level .99
Answer:
y=5x+31
Plot points at: (-4,11), (-6,1), (-3, 16)
Step-by-step explanation:
y-1=5(x+6)
y-1=5x+30
y=5x+31
If we want to calculate the time it takes to fill a water tank, we need the flow and volume of the tank.
The flow must be a data, but for the volume of the tank we need mathematics.
For example, if it is a cylinder, we need mathematics to know that the volume of the cylinder is:
V = pi * r ^ 2 * h
