Today only, a table is being sold for 134.40 . This is 32% of its regular price. What was the price yesterday?
2 answers:
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We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
Answer:
x = 2.4
Step-by-step explanation:
see image for explanation.
Hope it helps
