A rental car company charges $36.39 per day to rent a car and $0.09 for every mile driven. Miguel wants to rent a car, knowing that

He plans to drive 225 miles.
He has at most $480 to spend.

Which inequality can be used to determine x, the maximum number of days Miguel can afford to rent for while staying within his budget?

A Rental Car Company Charges $36.39 Per Day To Rent A Car And $0.09 For Every Mile Driven. Miguel Wants

Answers

Answer 1

The inequality used to determine the maximum number of days Miguel can afford to rent while staying within his budget is 202.5 + 36.39x ≤ 480.

What is an inequality?

An inequality is a comparison between two or more mathematical expressions. It can be of the form ≤, ≥, < or >.

We are given per day charges as $36.39 and the charges per mile as $0.90.

Also, it is given that in total 225 miles have been driven.

So, the charges of 225 miles are:

⇒225 x 0.90

$202.5

It is given that he can spend maximum $480.

So, for the maximum number of x days, we get the inequality as

202.5 + 36.39x ≤ 480

Hence, the inequality used to determine the maximum number of days Miguel can afford to rent while staying within his budget is

202.5 + 36.39x ≤ 480.

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Related Questions

For f(x) = 4x+ 2 and g( x) =x2 -6 find (f+g) (x)

Answers

The value of the function (f+g)(x) = x² + 4x - 4.

What is the difference between function and equation?

An output variable and one or more input variables are at least two of the variables that make up a function. A mathematical equation may have any number of variables and says that two expressions are equivalent (none, one, or more). A function is frequently expressed as an equation, however not all equations are functions.

Given that,

f(x) = 4x + 2

g(x) = x² - 6

(f+g)(x) = f(x) + g(x) = 4x + 2 + x² - 6

(f+g)(x) = x² + 4x - 4

Hence, the value of the function (f+g)(x) = x² + 4x - 4.

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i need help with everyone

Answers

The growth rate is - 0.17

How to solve for the growth rate

a. Growth rate =  (38-55)/100 = -0.17

This shows that it is decreasing

ii. Groth rate = 38-12.5)/(100-250)

= -0.17

This shows that it is decreasing as well

b. The relationship is a linear function. This is because rate of change of price and the number of days are equal

c. formula for game price in terms of days would be:

Price = -0.17*d + 55.

d = days

d. when price is 48.20

48.20 = -0.17d + 55

48.20 - 55 = -0.17d

d = 40

40 days after game was released

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On a grid, a middle school is located at (-5, 3), and a library is located at (2, 3). If 1 unit represents 1 mile on the grid, how far is the library from the middle school, in miles?

Answers

Answer: To find the distance between two points on a grid, we can use the distance formula:

distance = sqrt((x2 - x1)^2 + (y2 - y1)^2)

where (x1, y1) and (x2, y2) are the coordinates of the two points.

In this case, the coordinates of the middle school are (-5, 3), and the coordinates of the library are (2, 3). So we have:

distance = sqrt((2 - (-5))^2 + (3 - 3)^2)

distance = sqrt((2 + 5)^2 + 0^2)

distance = sqrt(7^2)

distance = 7

Therefore, the library is 7 miles away from the middle school.

Step-by-step explanation:

In a circle R with m angel QRS =46, find the angel measure of minor are QS

Answers

The angle measure of minor arc QS is 92 degrees, and the angle measure of angle QQS is 46 degrees.

What is Angle?

In geometry, an angle is a figure formed by two rays that have a common endpoint, called the vertex of the angle. The rays that form the angle are called the sides of the angle. Angles are typically measured in degrees or radians and are used to describe the amount of rotation between two intersecting lines or planes.

In a circle, the measure of an inscribed angle is equal to half the measure of the intercepted arc. Since QS intercepts the minor arc QR, the measure of angle QRS is equal to half the measure of the minor arc QS.

Therefore, if m∠QRS = 46, then m(arc QS) = 2×m∠QRS = 2×46 = 92 degrees.

Since the measure of an arc is equal to the measure of the central angle that intercepts it, and the sum of the measures of the central angles in a circle is 360 degrees, we have:

m(arc QS) + m(arc QR) = 360 degrees

Substituting the value of m(arc QS) that we found above, we get:

92 degrees + m(arc QR) = 360 degrees

Solving for m(arc QR), we get:

m(arc QR) = 360 degrees - 92 degrees = 268 degrees

Since QS is a minor arc of the circle, the measure of angle QQS is equal to half the measure of the arc QS. Therefore, we have:

m∠QQS = 0.5×m(arc QS) = 0.5×92 = 46 degrees

Therefore, the angle measure of minor arc QS is 92 degrees, and the angle measure of angle QQS is 46 degrees.

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An image of a rhombus is shown.


A rhombus with a base of 21 inches and a height of 19 inches.


What is the area of the rhombus?

160.5 in2
80 in2
399 in2
199.5 in2

Answers

The area of a rhombus is 399 in².

What is the area of a rhombus?

A rhombus is a quadrilateral whose four sides all have the same length. Another term for this shape is an equilateral quadrilateral since all of its sides are equal in length.

Here, we have

Given: A rhombus with a base of 21 inches and a height of 19 inches.

We have to find the area of a rhombus.

As per the given rhombus,

Base = 21 inches

Height = 19 inches

The area of the rhombus = base ×  height

⇒ 21 × 19 = 399 in²

Hence, the area of a rhombus is 399 in².

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Answer:

to simplify the other dude, its 399 in2

Step-by-step explanation:

hope this helps your day :P

please give brainleziest

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A parabola can be drawn given a focus of (1, 11)(1,11) and a directrix of y=3y=3. Write the equation of the parabola in any form.

Answers

The result of simplifying this answer is (x - 1)2 = 16(y - 7) (y - 7) The equation for the parabola is presented here in vertex form.

what is parabola ?

A parabola is a U-shaped curve in mathematics that is produced by the graph of a quadratic function. It is a particular kind of conic section, which is a circle made when a plane and a cone cross each other. A quadratic function with the following standard form can depict a parabola: Y = ax2+bx+c where are constants a, b, and c. Which way the parabola expands depends on the sign of the coefficient a.

given

We can use the following formula to express the equation of a parabola given a focus and a directrix:

where (h,k) is the parabola's vertex, p is the separation between it and the centre, and the directrix is represented by the horizontal line y = k - p.

The centre in this instance is (1,11), and the directrix is y=3.

We also understand that p is the distance, in this instance 4 units, between the vertex and the focus (since the focus is 4 units above the vertex). Therefore, we can enter the numbers into the formula to obtain:

(x - 1)^2 = 4(4)(y - 7) (y - 7)

The result of simplifying this answer is (x - 1)2 = 16(y - 7) (y - 7) The equation for the parabola is presented here in vertex form.

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Megan puts $200.00 into an account to use for school expenses. The account earns 9% interest, compounded annually. How much will be in the account after 5 years?

Answers

Answer:

To solve this problem, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

where:

A = the final amount

P = the principal (initial amount)

r = the annual interest rate (as a decimal)

n = the number of times the interest is compounded per year

t = the time (in years)

In this case, we have:

P = $200.00

r = 0.09 (9% expressed as a decimal)

n = 1 (compounded annually)

t = 5 years

Plugging these values into the formula, we get:

A = $200.00(1 + 0.09/1)^(1*5)

A = $200.00(1.09)^5

A = $200.00(1.538624)

A = $307.72

Therefore, after 5 years, Megan will have $307.72 in her account.

Step-by-step explanation:

The data below shows the colors preferred by a group of people. We want to plot this on a pie chart. What will be the central angles of each of these categories?
Red=
blue=
green=
purple=

Answers

The central angles for each category are approximately: Red: 100°, Blue: 150°, Green: 50° and Purple: 60°

What is Graph?

Graph is a mathematical representation of a network and it describes the relationship between lines and points.

To find the central angle of each category, we first need to calculate the total number of people:

Total = 20 + 30 + 10 + 12 = 72

Next, we can calculate the percentage of people who prefer each color:

Red: 20/72 = 0.278, or 27.8%

Blue: 30/72 = 0.417, or 41.7%

Green: 10/72 = 0.139, or 13.9%

Purple: 12/72 = 0.167, or 16.7%

To find the central angle for each category, we can multiply the percentage by 360°:

Red: 0.278 × 360° = 100.08°

Blue: 0.417 × 360° = 150.12°

Green: 0.139 × 360° = 50.04°

Purple: 0.167 × 360° = 60.48°

Therefore, the central angles for each category are approximately:

Red: 100°, Blue: 150°, Green: 50° and Purple: 60°

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The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.
P = $2300, A = $2762, t = 6 months
The loan's simple interest is
%.

Answers

The loan's simple interest rate when the loan of $2,300 is taken will be 40.17%.

What is simple interest?

Let P be the principal, R be the rate of interest, and T be the time. Then the interest rate is given as,

The formula for interest is written as,

I = (PRT)/100

The value of the principal is $2,300 and the amount generated in six months is $2,762. Then the percentage rate is calculated as,

($2,762 - $2,300) = [$2,300 x r x (6/12)] / 100

46,200 = 1,150r

r = 40.17%

The loan's simple interest rate when the loan of $2,300 is taken will be 40.17%.

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Can someone answer this just read the picture? Right answers only please!

Answers

The linear model would be a reasonable way to predict the temperature as temperature determines the number of ice cream that would be sold.

What is temperature?

Temperature is a unit of hotness and coldness that can be described in terms of any number of arbitrary scales. It also represents the direction wherein heat energy will naturally flow, from either a hotter (i.e., higher temperature) body to a colder body.

Temperature is not the same as the energy of such a thermodynamic system; for instance, an iceberg has a significantly larger total heat energy than a match, despite the fact that a match is burning at a significantly higher temperature. The linear model would be a reasonable way to predict the temperature as temperature determines the number of ice cream that would be sold.

Therefore, the linear model would be a reasonable way to predict the temperature as temperature determines the number of ice cream that would be sold.

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Help please
: Thank you

Answers

The mistake is in the second step, the negative signs shouldn't be on the diagonal elements.

What is the error in the inverse matrix equation?

Here we can see that someone is trying to find an inverse matrix.

To get it, we need to change the order of the elements in the diagonal (thing that has ben done) and change the signs of the elements that are not in the diagonal (in the image we can see that this person changed the signs on the diagonal).

So there is the mistake, the negative signs should be in the 3 and the 5 in the second step.

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A Gardner makes a nice new circular flower bed the bed is ten feet in diameter calculate the circumference and the area of the circular flower bed

Answers

The area of the circular flower bed is approximately 78.54 square feet.

The circular flower bed's 10 foot diameter corresponds to a radius of 5 feet, or half the diameter. The area and circumference of the circular flower bed can be determined using the following data:

Circumference:

The formula for calculating a circle's circumference is:

C = 2πr

where the mathematical constant is roughly equivalent to 3.14159 and r is the circle's radius.

Using the values we were provided as replacements, we obtain:

C = 2π(5) \sC = 10π

We may calculate a rough estimate of the circumference using a calculator:

C ≈ 31.42 feet

As a result, the flower bed's circumference is approximately 31.42 feet.

Area:

The area of a circle is determined using the following formula:

A = πr²

Using the values we were provided as replacements, we obtain:

A = π(5)² \sA = 25π

We can calculate the area's value using a calculator as follows:

A area of 78.54 square feet.

Thus, the circumference of the flower bed is about 78.54 square feet.

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which equation describes the line that passes through the points (1,3) and (-2,6)


y= -x+4
y= -2x+6
y= -2x+3
y= -x+3

Answers

hi

im pretty sure the answer is:

y= -x+4

F. Vincent and Mike collect cards. Vincent has 24 cards and Mike has collected m more cards than Vincer
Write an expression that represents the total number of cards Vincent and Mike have collected.
...

Answers

We do not know how many cards Mike has, so we cannot find a number, but using m for the number of cards more that Mike has, we can find that Mike "24 + m" cards, and adding that to Vincent's cards we find that the total number of cards between the two is:

48 + m

Use the number line to identify the least value, first quartile, median, third quartile, and greatest value of the data. Number of sit-ups: 20, 20, 23, 25, 25, 26, 27, 29, 30, 30, 32, 34, 37, 38

Answers

The median value is 26.5, the first quartile is 24, the third quartile is 35.5, and the highest value is 38. The lowest value is thus 20.

How to find out mean median and first quartile?

We can plot the data on a number line to determine the data's least value, first quartile, median, third quartile, and greatest value:

20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38\s| | | |

The leftmost number on the number line and the lowest value is 20.

We can split the data into four equal sections to determine the quartiles. The data's middle value is known as the median. We choose the average of the two middle values because there are an even number of data points. The midpoint is:

(26 + 27)/2 = 26.5 is the median.

We calculate the median of the lower half of the data to determine the first quartile:

(23 + 25)/2 = 24 for the first quartile.

We determine the median of the upper half of the data to determine the third quartile:

Third quartile: (34.5) ((34 + 37)/2)

The rightmost number on the number line, 38, has the highest value.

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ALGEBRA 1 HW!! I WILL GIVE BRAINLYEST FOR ANSWERS!!!



NO BRAINLYEST FOR RANDOM ANSWERS​

Answers

The domain and the range of h(n) are the set of whole numbers

How to determine the domain and the range of h(n)

Given that

h(n) is the number of houses

The possible values of n and h(n) are whole numbers

So, we have

Domain: All set of whole numbersRange: All set of whole numbers

How to determine the values of h(5) and h(11)

Based on the patterns in the sequence, we have

h(n) = n

So, we have

h(5) = 5

h(11) = 11

How to determine the explicit function of h(n)

In (b), we have

h(n) = n

How to determine the values of s(4) and s(7)

Given that

s(n) is the number of segments

Based on the patterns in the sequence, we have

s(n) = 2n

So, we have

s(4) = 8

s(7) = 14

How to determine the growth pattern of s(n)

Above, we have

s(n) = 2n

The above equation is a proportional equation

This means that

The growth pattern of s(n) is linear, with a constant rate of change

How to determine the explicit function of s(n)

Above, we have

s(n) = 2n

Hence, the explicit of s(n) is s(n) = 2n

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algebra l
Find an exponential model that is a reasonable fit for the data.
The exponential model that is a reasonable fit for the data is ​f(x)=

Answers

The optimal strategy would be to fit several models to the data using equation mathematical software or tools, and then assess the goodness of fit using statistical metrics like R-squared or Mean Squared Error.

What is equation?

In a mathematical equation, the equals sign (=), which connects two claims and denotes equality, is utilised. In algebra, an equation is a mathematical statement that proves the equality of two mathematical expressions. For instance, in the equation 3x + 5 = 14, the equal sign separates the numbers by a space. Mathematical expressions can be used to describe the relationship between the two sentences on either side of a letter. The logo and the particular piece of software frequently correspond. like, for instance, 2x - 4 = 2.

The following exponential model could be a good fit for the data in the image:

[tex]f(x) = 7.5 * e^(0.1x) (0.1x)[/tex]

The data is assumed to develop exponentially with a base of e in this model, with a growth rate of 10% for each unit increase in x.

It is crucial to remember that this is only one potential model and that other exponential models with other parameters could also be able to satisfactorily match the data. The optimal strategy would be to fit several models to the data using mathematical software or tools, and then assess the goodness of fit using statistical metrics like R-squared or Mean Squared Error.

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Fill in the table, write an equation, find the LCD, and find the average rate.

Answers

The LCD we can use to simplify the equation is (2-r)(2+r) = 4 - r².

What is LCD?

The lowest common denominator is defined as the set of fraction denominators with the lowest common multiple. The lowest positive integer with more than one denominator in the set is LCD.

1. We can use the formula:

distance = rate × time

For the upstream journey:

distance = 4 miles

rate = 2 - r (since Dara is paddling against the current)

time = 4/(2-r) hours

For the downstream journey:

distance = 4 miles

rate = 2 + r (since Dara is paddling with the current)

time = 4/(2+r) hours

We can fill in the table as follows:

                       Distance (mi)    Avg Speed (mph)    Time (h)

With Current:            4                     2+r                    (4)/(2+r)

Against Current:       4                    2-r                       (4)/(2-r)

2. We know that the total time for the round trip is 6 hours:

4/(2-r) + 4/(2+r) = 6

3. Multiplying both sides by the LCD (2-r)(2+r), we get:

4(2+r) + 4(2-r) = 6(2-r)(2+r)

Simplifying, we get:

8 = 12 - 2r²

Rearranging, we get:

r² = 2

Taking the square root of both sides, we get:

r = ±√2

Since the current is flowing in one direction, we take the positive square root:

r = √2 ≈ 1.41 miles per hour

The LCD we can use to simplify the equation is (2-r)(2+r) = 4 - r².

4. To the nearest hundredth, the rate of the current is approximately 1.41 miles per hour, which is option B: About 1.15 miles per hour (rounded to two decimal places).

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Pears cost $3 for a 4 pound bag. If pears cost less per pound than apples but more per pound than peaches, which of the following could be the price per pound of apples and peaches?
Apples are $1.13 per pound and peaches are $1.04 per pound
apples are $1.13 per pound and peaches are $0.63 per pound
apples are $1.13 per pound and peaches are $0.75 per pound
apples are $0.63 perpound and peaches are $1.13 per pound

Answers

The price of Apples are $1.13 per pound and peaches are $0.63 per pound Option B

How to find the price per pound of apples and peaches

If pears cost $3 for a 4 pound bag, then the price per pound of pears is:

3/4 = $0.75 per pound

Since pears cost less per pound than apples but more per pound than peaches, we can set up the following inequality:

peaches < pears < apples

Substituting the known price per pound of pears, we get:

peaches < $0.75 < apples

Now, we can check each option to see which satisfies the inequality:

Apples are $1.13 per pound and peaches are $1.04 per pound:

$1.04 < $0.75 < $1.13

This option does not satisfy the inequality.

Apples are $1.13 per pound and peaches are $0.63 per pound:

$0.63 < $0.75 < $1.13

This option satisfies the inequality.

Apples are $1.13 per pound and peaches are $0.75 per pound:

$0.75 < $0.75 < $1.13

This option does not satisfy the inequality.

Apples are $0.63 per pound and peaches are $1.13 per pound:

$1.13 < $0.75 < $0.63

This option does not satisfy the inequality.

Therefore, the price per pound of apples and peaches that could be consistent with the given information is: apples are $1.13 per pound and peaches are $0.63 per pound.

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-31.5 + 15x - 1.5x^2

Answers

The value of x for the given expression is x = 7 and x = 3.

What is a quadratic expression?

A mathematical expression with the form ax² + bx + c, where a, b, and c are constants and x is a variable, is known as a quadratic expression. The graph of a quadratic expression can be represented by a U-shaped parabola. The y-intercept of the parabola is determined by the constant term c, whereas the coefficient a decides whether the parabola opens up or down.

The given expression is:

1.5x² - 15x + 31.5x = 0

The quadratic formula is given as:

x = -b ± √b² - 4ac / 2a

x = 15 ± √(15)² - 4(1.5)(31.5) / 2(1.5)

x = 15 ± 6 / 3

x = 15 + 6 / 3 and x = 15 - 6/3

x = 7 and x = 3

Hence, the value of x for the given expression is x = 7 and x = 3.

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Maria can run 5 miles in the time that it takes Gus to run 4 miles. Assuming that both Maria and Gus maintain constant speeds and run for equal periods of time, which equation correctly relates the variables defined below?

G: distance Gus runs, in miles

M: distance Maria runs, in miles

Answers

Answer:

5 miles / Maria's time = 4 miles / Gus's time

Since both Maria and Gus run for equal periods of time, we can set their times equal to each other:

5 miles / t = 4 miles / t

where t is the time it takes both of them to run.

Simplifying this equation, we can see that the distance Maria runs (M) is equal to the distance Gus runs (G) multiplied by 5/4:

M = (5/4)G

Therefore, the correct equation that relates the variables defined is:

M = (5/4)G

This means that Maria's distance is 1.25 times Gus's distance. So, the correct answer is option B: M = 1.25G.

2
A worker earned #80 per hour for a 38-hour week in a company. The company pays overtime at
a time and a half. In one week he earned #3640. Find the total numbers of hours he worked that
week.
3
Kasham travelled from Lagos to Akure, a distance of 350km. The first 210km she spent 3hours
and the remaining distance she spent 2hours 45minutes. (a) Calculate the speed for each part
of the journey. (b) Calculate the average speed for the whole journey in (i) km/h (ii) m/s to 1d.p

Answers


Answer:

2. Total Hours= 38+5 = 43

Step-by-step explanation:


2. Wage at Normal rate80 *38 = 3040
Extra Sum of Money then Normal wage 3640-3040 = 600

Overtime rate 80*1.5= 120
Overtime hours 600/120=5

3. (a) 210/3 = 70km/hr
        140/(2.75*) = 50.91 km/hr
         *2.75= 2+ (45/60)
 

Write the equation of a rational function that has been translated left 2 units and shifted up 1 unit.​

Answers

The equation of a rational function that has been translated left 2 units and shifted up 1 unit is: f(x) = (a(x - 2) + b + 1) / (c(x - 2) + d)

What is a function?

A relation is a function if it has only One y-value for each x-value.

A general form of a rational function is:

f(x) = (ax + b) / (cx + d)

To translate this function left 2 units, we need to replace x with x + 2. This gives us:

f(x + 2) = (a(x + 2) + b) / (c(x + 2) + d)

To shift this function up 1 unit, we need to add 1 to the numerator. This gives us:

f(x + 2) = (a(x + 2) + b + 1) / (c(x + 2) + d)

Therefore, the equation of a rational function that has been translated left 2 units and shifted up 1 unit is: f(x) = (a(x - 2) + b + 1) / (c(x - 2) + d)

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A chef has three blocks of butter each block weighs 1 pound she cut each blocks into fifths how many 1/5 pounds pieces of butter does the chef have

Answers

Answer:

Chef will have 15 pieces of butter.

Step-by-step explanation:

Chef has 3 blocks of butter,

weight of each block = 1 pound

she cuts each block into fifth pieces,

3 / 1/5 = 15 pieces

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help help help!! with my math !!!!!!!!!!!!!

Answers

Triangle LMO is congruent to NMO because they are reflections of eachother.

Which met represents this solid figure

A. Net 1
B. Net 2
C. Net 3
D. Net 4

Pls help ​

Answers

how do each of the nets look
C. net 2!!!!!!!!!!!!!!!!!!!!!!!!!

In cricket, one over consists of 6 balls being bowled. Determine the number of overs bowled if 120 balls are bowled.​

Answers

Therefore, 20 overs are bowled if 120 balls are bowled in cricket.

What is equation?

An equation is a mathematical statement that shows that two expressions are equal. It consists of two parts: the left-hand side (LHS) and the right-hand side (RHS), separated by an equals sign (=). The equals sign indicates that the two expressions are equal, and the goal of solving the equation is to find the value of x that makes this statement true. Equations can be solved using various algebraic techniques, such as simplifying and rearranging the expressions, applying operations to both sides of the equation, and factoring or expanding expressions. Solving an equation involves finding the values of the variables that make the equation true.

Here,

If 6 balls are bowled in one over, then the number of overs can be determined by dividing the total number of balls by 6.

So, if 120 balls are bowled, the number of overs is:

Number of overs = 120 balls ÷ 6 balls/over

= 20 overs

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A circle has 24 pi as its circumference. What is the, diameter, radius, and area?

Answers

Answer:

See below.

Step-by-step explanation:

We are asked for the diameter, radius, and area of a circle.

We are given the Circumference.

We should know that;

[tex]Circumference = (diameter)\pi[/tex]

[tex]Circumference = 24\pi[/tex] (Exact)

This means that the Diameter is 24.

The Radius is [tex]\frac{1}{2}[/tex] of the Diameter.

This means that the Radius is 12.

The area of a circle is represented as;

[tex]Area = \pi(radius)^2[/tex]

We have the requirements to find the area, with the value of the radius.

Solve for the area;

[tex]Area = \pi(12)^2[/tex]

[tex]Area = 144 \pi[/tex] (Exact)

[tex]Area = about \ 452.39.[/tex] (Approx.)

The function f(x)=√ Is modified as follows:
. It is multiplied by-3.
• x is replaced by x+3.
The new function is f(1) = -3√√2+3
Which of the following transformations will occur on the new, modified graph? Choose all that apply.
reflection over the y-axis
dilation
O reflection over the x-axis
Overtical translation

Answers

Answer:

Reflection in the x-axis

Step-by-step explanation:

f(x) = √x

Shift left 3 units:

f(x + 3) = √(x + 3)

Reflection in x-axis:

-f(x + 3) = -√(x + 3)

Vertical stretch:

-3.f(x + 3) = -3√(x + 3) = g(x)

g(1) = -3√((1) + 3)

g(1) = -6

Rahul plans to invest $25,000 in a retirement account that compounds 6% monthly . He has 25 years left until he retires . How much will he have in the account when he retires?

Answers

The total amount that Rahul will have is 108,006.20.

Compound Interest:

Compound interest is a type of interest where the interest earned on a principal amount is added to the principal, and the new total amount becomes the basis for calculating interest in the next period.

In other words, the interest is earned not only on the principal amount but also on the accumulated interest.

The formula for compound interest is:

                      A = P (1 + r/n)^(n*t)

Here we have, Rahul's plans to invest $25,000 in a retirement account that compounds 6% monthly.

From the data,

The principal amount, P = 25000

Rate of interest, r = 6% = 6/100 = 0.06

Time period, t = 25 years  

Number of compounds, n = 12  [ Since compounded annually ]

By using the formula, A = P (1 + r/n)^(n×t)  

A = 25000 [ 1 + 0.6/12]⁽¹²ˣ²⁵⁾

A = 25000 [ 1 + 0.005]⁽³⁰⁰⁾

A = 25000 [1.005]⁽³⁰⁰⁾  

A = 108,006.20 (rounded to the nearest cent)  

Therefore,

The total amount that Rahul will have is 108,006.20.

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