Derrick will need $39,500 in 10 years for college tuition. how much should his parents invest now at 9.5% annual interest, compounded daily, to reach this goal?
$3,950
$2,257.69
$10.82
$15,278.16

His parents should invest $15,278.16 to reach this goal ⇒ 4th answer

Step-by-step explanation:

* Lets explain how to solve the problem

- Derrick will need $39,500 in 10 years for college tuition

∴ The future amount is $39,500

∴ The time for investment is 10 years

- P is the money his parents invest now at 9.5% annual interest,

 compounded daily

∴ The rate is 9.5% per year compounded daily

- The formula of the compounded interest is:

  , where

# A is the future value of money

# P is the value of investment

# r is the rate of interest in decimal

# t is the time of investment

# n is the period of the time

∵ A = $39,500

∵ t = 10

∵ r = 9.5/100 = 0.095

∵ n = 365 ⇒ compounded daily

- Lets use the formula above to find P

∴

∴

- Divide both sides by 2.58539

∴ P = $15278.16

∴ His parents should invest $15,278.16 to reach this goal

infinitely many solutions

step-by-step explanation:

we have been given the equation;

2(2x + 3) = -4 + 2(2x + 5)

we need to determine the value of x.

2(2x + 3), we expand this expression to obtain 4x + 6

similarly 2(2x + 5) will become 4x + 10

now we have;

4x + 6 = -4 + 4x + 10

4x + 6 = 4x + 10 - 4

4x + 6 = 4x + 6

the expression on the left hand side is identical to the one on the right hand side. therefore, we are looking at just a single straight line whose equation is;

y = 4x + 6

consequently, we shall have infinitely many solutions

36 girls

step-by-step explanation:

the 48 boys is 4 parts of the ratio

divide 48 by 4 to obtain one part of the ratio

= 12 ← 1 part of the ratio

3 parts = 3 × 12 = 36 ← number of girls