Here ya go have a great day!
Assuming the inteest is annual, since it's simple that means we just have to analyze:
, where r is our interest rate as a decimal, t is time, p is our principal investment and A is our ending value. So, in the context of our problem this becomes:
, which when evaluated by our trusty calculator becomes:
7657.68938,
which is rounded to 7500 in the problem.
Answer:
1/15
Step-by-step explanation:
You have a 1/3 chance of being an elf.
You have a 1/5 change of having the magic tool.
1/3 × 1/5 = 1×1/3×5 = 1/15