Question

Over the last 5 years, a corporation's debt grew by $ 4 , 253 , 335 . Calculate the average rate at which the company's debt was growing in cents per second. Round your answer to the nearest hundredth if necessary. (For the purposes of this calculation, use 365 days/year.)

Answer 1

$.03 per second

Explanation:

Take the debt and divide by the number of years

4 , 253 , 335 /5

850667 per day

The divide by how many days in a year

850667/365

2330.594521 per day

Then divide by 24 hours in a day

2330.594521 /24

97.10810502 per hour

Then divide by 60 minutes in an hour

97.10810502/60

1.618468417 per minute

The divide by 60 seconds in an hour

1.618468417/60

.026974474 per second

$.03 per second