yes because it passes the vertical line test
The amount earned by Tom is the product of the <em>rate per</em> <em>hour and the number of hours</em> worked which is $90.
- The amount earned per hour = $15
- The number of hours worked = 6 hours
<u>The amount earned at the normal earning rate can be calculated thus</u> :
- <em>Normal rate per hour × number of hours</em>
Amount earned = $15 × 6 = $90
Therefore, the amount earned by Tom after working for 6 hours at the normal rate is $90.
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Answer: No, the money won't be enough to buy the car
Step-by-step explanation:
you plan on buying yourself a new $20,000 car on graduation day and graduation day is 24 months time. If you invest $300 a month for the next 24 months.
The principal amount, p = 300
He is earning 4% a month, it means that it was compounded once in four months. This also means that it was compounded quarterly. So
n = 4
The rate at which the principal was compounded is 4%. So
r = 4/100 = 0.04
It was compounded for a total of 24 months. This is equivalent to 2 years. So
n = 2
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount that would be compounded at the end of n years.
A = 300(1 + (0.04/4)/4)^4×2
A = 300(1 + 0.01)^8
A = 300(1.01)^8
A = $324.857
The total amount at the end of 24 months is below the cost of the car which is $20000. So he won't have enough money to buy the car
