gabbyk22
18.11.2019 •
Mathematics
9. barbara invests £14,000. in the first year, she earns 5.9% interest. in the second year, she earns 3.2% interest, a. what was the total percentage increase over the 2 years?
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Ответ:
Step-by-step explanation:
Use future value formula to get the total amount at the end of year 1 and year 2;
First, find FV at the end of 1 year.
FV = P(1+r)^n
P = principal amount or amount invested in present value terms = 14,000
r= discount rate = 5.9% OR 0.059 as a decimal
n= total duration of investment = 1
FV = 14,000(1.059)^1
FV= 14,826
Next, find FV of 14,826 at the end of year 2;
P = principal amount or amount invested in present value terms = 14,826
r= discount rate = 3.2% OR 0.032 as a decimal
n= total duration of investment = 1
FV = P(1+r)^n
FV = 14,826 (1.032)^1
FV = 15,300. 432
Percentage increase =[ (New value - Old value)/Old value] *100
= [ (15,300.432 - 14,000)/14,000] *100
= (1,300.432/14,000)*100
= 9.2888
Therefore total percentage increase over the 2 years = 9.29%
Ответ:
Reduce so -0.45x = -0.99
Divide so that x =2.2