If P dollars in principal grows to A dollars after t years with annual interest, then the interest rate r is given by r = ( A P ) 1 / t − 1 . (See Example 6 .) a. In one account, $10,000 grows to $16,802 after 5 yr. Compute the interest rate. Round your answer to a tenth of a percent. b. In another account $10,000 grows to $18,000 after 7 yr. Compute the interest rate. Round your answer to a tenth of a percent. c. Which account produced a higher average yearly return?
If P dollars in principal grows to A dollars after t years with annual interest, then the interest rate r is given by r = ( A P ) 1 / t − 1 . (See Example 6 .) a. In one account, $10,000 grows to $16,802 after 5 yr. Compute the interest rate. Round your answer to a tenth of a percent. b. In another account $10,000 grows to $18,000 after 7 yr. Compute the interest rate. Round your answer to a tenth of a percent. c. Which account produced a higher average yearly return?
Solution Summary: The author calculates the interest rate r for that the principle amount 10000 is increasing in 5 years.
If P dollars in principal grows to A dollars after t years with annual interest, then the interest rate r is given by
r
=
(
A
P
)
1
/
t
−
1
. (See Example 6.)
a. In one account, $10,000 grows to $16,802 after 5 yr. Compute the interest rate. Round your answer to a tenth of a percent.
b. In another account $10,000 grows to $18,000 after 7 yr. Compute the interest rate. Round your answer to a tenth of a percent.
c. Which account produced a higher average yearly return?
Kate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). The following table shows the values of the slices in the eyes of each player. What is fair share to nancy?
S1
S2
S3
S4
Kate
$4.00
$6.00
$6.00
$4.00
Luke
$5.30
$5.00
$5.25
$5.45
Mary
$4.25
$4.50
$3.50
$3.75
Nancy
$6.00
$4.00
$4.00
$6.00
Kate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). The following table shows the values of the slices in the eyes of each player.
S1
S2
S3
S4
Kate
$4.00
$6.00
$6.00
$4.00
Luke
$5.30
$5.00
$5.25
$5.45
Mary
$4.25
$4.50
$3.50
$3.75
Nancy
$6.00
$4.00
$4.00
$6.00
how much is the cak worth to mary
Kate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). The following table shows the values of the slices in the eyes of each player. What is the threshold of fair share for Luke?
S1
S2
S3
S4
Kate
$4.00
$6.00
$6.00
$4.00
Luke
$5.30
$5.00
$5.25
$5.45
Mary
$4.25
$4.50
$3.50
$3.75
Nancy
$6.00
$4.00
$4.00
$6.00
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