First, we convert the interest such that it is compounded annually. The formula would be:
ieff = (1 + i/m)^m - 1
where m = 4, since there are 4 quarters in a year
ieff = (1 + 0.025/4)^4 - 1
ieff = 0.0252
Then we use this for this equation:
F = P(1 + i)^n, where F is the future worth, P is the present worth and n is the number of years
F = $600(1 + 0.0252)^15
F = $871.53
Answer:
Hi- It takes about 50 years. Just write the 50 not the sentence lol
Answer:
8 and 1/4
Step-by-step explanation:
10 3/4 - 2 1/2
3/4 - 1/2 = 1/4
10 - 2 = 8
Out of your $67 for the day, $40 of it goes to the rental before you even drive it out of the lot. That leaves you $27 a day for mileage.
$27 / $0.18 per mile = <u>150 miles</u> per day, tops.
Answer:
7.66
Step-by-step explanation:
Just open the parenthesis.
4x-4+4x+4x-4=84
Now simplify and solve
12x-8=84
12x=92
x= 7.66
