Answer:
- No, he will not accumulate sufficient funds to purchase his delivery truck after 6 years.
Explanation:
To determine how much money Earl Miller—the owner of the Papa Gino's franchise—will have available in 6 years, it's necessary to assess the worth of the $20,000 he plans to invest at a 5% interest rate compounded semiannually:
With semiannual interest: 5% / 2 = 0.05/2 = 0.025
Equation:
Here, r/n was calculated previously: r/n = 0.05/2 = 0.025; and t refers to the time in years: 6.
Thus, the future value of the investment would fall short of the truck's price, meaning
he will not be able to afford the delivery truck after 6 years.
45.7mL/s = 45.7(3600)mL/(3600)s
= 164520mL/3600s
= 164520mL/hr
= 0.16452kL/hr