Answer: $1114.91
Step-by-step explanation:
The formula for compound interest is
Where
A = final amount
P = initial principal balance (1030 for this)
r = interest rate (0.04 for this)
n = number of times interest applied per time period (2 for this)
t = number of time periods elapsed (2 for this)
This rounds up to $1114.91
Answer:
The answer is 21 minutes
Step-by-step explanation:
We use the equation Xf = Xo + vt
1) At 1:00 PM, child one leaves the starting point heading north at a constant velocity of 6 mi/hr or .1 [mi/min] (divide by 60 to convert from [mi/hr] to [mi/min])
2) He walks for 15 minutes before kid 2 starts walking. In 15 minutes he is able to cover 1.5 [mi]
3) Now, child 2 starts walking and we know that when the range reaches 3 miles, they won´t be able to communicate. So the sum of the final position of child 1 and child 2 must be 3[mi]
4) Sum the equations and equate to 3
5) Substitute the values we already know
6) in 15 + 6 minutes they will be 3miles apart
7) In 21 minutes they will still be able to communicate with one another.