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
Answer:
56
Step-by-step explanation:
To divide 364 into two parts in the ratio 15:11, add 15+11 to get 26. Now divide 364 by 26 to get 14. This counters 14 for each part, and we have 26 parts. If each part is x, and x=14, x times 15 will equal 15x=210, so the first number is 210. x times 11 will equal 11x=154, so the second number is 154. 210-154=56, so the first number is 56 bigger than the second.
15 you have to do all the steps thank it this I think
