Answer:
61/10 or in decimal form 6.1 or 6 1/10
Step-by-step explanation:
Amount must the owner make to have the cost of the ski lift in 5 years is $6,711,045.22.
<h3>
What is compound interest?</h3>
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest.
A = P(1 + r/n)
P =5,500,000
r =4%= 0.004
n =4
t= 5 years.
Now,
A = P(1 + r/n)
A = 5,500,000.00(1 + 0.04/4)
A = 5,500,000.00(1 + 0.01)
A = $6,711,045.22
Hence, The total amount accrued is $6,711,045.22.
Learn more about compound interest here:
brainly.com/question/14295570
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Answer:
500,000 + 4,000 + 40 + 7
<h2>BRAINLIEST please if this helped!</h2>
Answer:
28 years
Step-by-step explanation:
To find the number of years that the investment will reach $3500, we can use the formula of compound interest:
P = Po * (1+r)^t
where P is the final value, Po is the inicial value, r is the annual interest and t is the time in years.
In this question, P = 3500, Po = 1800 and r = 2.46% = 0.0246, so:
3500 = 1800 * (1+0.0246)^t
1.0246^t = 3500/1800
1.0246^t = 1.9444
Using logarithm in both sides:
log(1.0246^t) = log(1.9444)
t*log(1.0246) = 0.2888
t * 0.0106 = 0.2888
t = 0.2888 / 0.0106 = 27.2453 years
So the investment will reach $3500 after 28 years (rounding the result up, because after 27 years the investment will not reach $3500)
Paralel lines have same slope
if green line is paralell to red line
and the slope of the green line is 1/4
slope of red line is 1/4 also
