For this case we have the following equation:
P (t) = P (1 + r / n) ^ (n * t)
Where,
P: initial investment
r: interest
n: periods
t: time
she will take on her 45th birthday:
for t = 25:
P (25) = 1000 * (1 + 0.0165 / 4) ^ (4 * 25)
P (25) = 1509.31 $
Answer:
The future value of this investment when she takes her trip is:
P (25) = 1509.31 $
18.88 divided by 1.6 is 11.8.
I strongly believe the answer is c
Hope this helps in some way:)
Answer:
Im sorry for you this is too complex
Gabrielle's age is 3x (in which x is mikhail's age)
the sum is 56 so 3x+x=56
3x+x=56
4x=56
x=14
since x was mikhail's age, mikhail is 14 years old
