Math question, last one???????

ok these are the last 2 that i can figure out, please help :]





Suppose that on January 1, 1910, one of your ancestors invested $47 compunded annually at 3.5%. If this money were left to you, how much would you have in your account on January 1, 2002? Round to the nearest dollar.





and...





Tom buys a shirt for $22.00 plus 7% sales tax. His cousin buys a shirt for $18.00 plus 4% sales tax.


a. How much do Tom and his cousin pay for the shirts? Show your work.


b. Who spent more on tax?





Please i can't figure out these last 2 questions and show how you figured it out too b/c i dont get how to do this kind of math :[





Please and Thank you :]

Math question, last one???????
first answer is 1075.65





if you have a graphing calculator, go to apps, finance, tvm solver.


enter 91 for N (thats the number of periods)


I% 3.5


pv is 47 (present value)


Pmt is zero since they didnt add anything


FV is what you are trying to find out. so type alpha enter in that spot and it gives you the answer








2. tom = 22 + (22 x .07) = 23.54


cousin= 18 + (18 x .04) = 18.72





Tom spent more on taxes. he had a larger tax rate and a larger taxable price
Reply:i am not sure about the first one but i can answer the 2nd one





a 22.00+(22.00x.07) thats for tom use your calculator


18.00+(18.00x.04) for his cousin





b apparently tom spent more
Reply:Y= ($47x.035)(92)


$151
Reply:Question 2





A) Tom paid $23.54


His cousin paid $18.72


b) Tom spent more on tax-$1.54 to be exact.
Reply:1$1152.26


2 $23.54


3 $18.72


take and move the decimal in the % to the left to place then multiply that by the price then add that answer to the price

rose