Step 1; First we must calculate how much interest is generated for a single year. The annual interest rate is 4.5% i.e. 4.5% of 10,000 dollars which equals 0.045 × 10,000 = 450 dollars a year. As the years pass, more and more will be put into the account due to interest.

Step 2; For there to be 13,500 dollars in the bank account we need to calculate how much money is added due to interest.

The money needed to be added through interest = 13,500 - 10,000 = 3,500 dollars.

So we need to determine how long it will take for the bank to add 3,500 dollars by adding 450 dollars a year.

The number of years to reach 13,500 dollars = $\frac{3,500}{450}$ = 7.777 years. By rounding this value to the nearest tenth, we get 7.8 years.

7 0

3 years ago

The price for a gallon of whole milk has increased from 2006 to 2008. from 2006 to 2007, the cost of whole milk increased by app

valkas [14]

You have the starting price of $1.99. To get the increased price, divide 1.99 by .56 (.56 is the decimal form of 56%). You would get $3.55. This is for the year 2007. So for 2008, divide 3.55 by .42. The answer is $8.45. You can check the answers by multiplying the answers you go the the percentage. Ex. 8.45* .42=3.55 (rounded)

3 0

3 years ago