a loan of 38000 is made of 3% interest, compounded annualy. after how many years will the amount due reach 49000 or more

the time period is 9 years

Step-by-step explanation:

The computation of the number of years is as follows:

As we know that

Future value = Present value × (1 + rate of interest)^number of years

$49,000 = $38,000 × (1 + 0.03)^number of years  

$49,000 ÷ $38,000 = 1.03^number of years  

tlog(1.03) = log($49 ÷ $38)

Now apply the log formula in calculator or in excel  

t = log(49 ÷ 38) / log(1.03)

= 8.6

= 9 years

Hence, the time period is 9 years

answer:

total cost for tiles and paints is $924.  

step-by-step explanation:

we have been given that a community hall is in the shape of a cuboid. the hall is 40m long 15m high and 3m wide.

the paint will be required for 4 walls and ceiling.

let us find area of walls and ceiling.

therefore, the area of walls and ceiling is 1410 square meters.

given: cost for 10 litre of paint is $10 and 10 litre paint covers 25 square meter. therefore,

therefore, the total painting cost is $564.

tiles will be required for floor. let us find the area of floor.

given: 1m squared floor tiles costs $3. so,

therefore, the total tiles cost is $360.

now let us find combined total cost of tiles and paint.

therefore, the combined total cost of tiles and paint is $924.