We have been given that a person places $6340 in an investment account earning an annual rate of 8.4%, compounded continuously. We are asked to find amount of money in the account after 2 years.
We will use continuous compounding formula to solve our given problem as:
, where
A = Final amount after t years,
P = Principal initially invested,
e = base of a natural logarithm,
r = Rate of interest in decimal form.
Upon substituting our given values in above formula, we will get:
Upon rounding to nearest cent, we will get:
Therefore, an amount of $7499.82 will be in account after 2 years.
Answer:
Gross profit formula= 3x
x= number of units sold
Step-by-step explanation:
Giving the following information:
Unitary variable cost= $2
Selling price per unit= $5
<u>To calculate the profit earned, we need to use the unitary contribution margin formula</u>. The contribution margin is a product's price minus all associated variable costs (sales- variable costs), resulting in the incremental profit earned for each unit sold.
Unitary contribution margin= 5 - 2 = 3
<u>Now, the profit formula:</u>
Gross profit formula= number of units*unitary contribution margin
Gross profit formula= 3x
x= number of units sold
Answer:
Numerator and denominator
Step-by-step explanation:
Numerator is the top number
Denominator is the bottom number
Answer:
3.59
Step-by-step explanation:
-×-=+
-2.31+5.9
=3.59
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