The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Step-by-step explanation:
The given is,
Compounds money quarterly
Double your money in 10 years
Step:1
Formula to calculate future investment with compounded quarterly,
...............................(1)
Where, A - Future amount
P - Initial investment\
r - Rate of interest
n - No. of compounding in a year
t - No. of years
Step:2
Let, P = X
A = 2X ( Double your money )
From given, n - 4 ( for compounding quarterly )
t - 10 years
From equation (1)



Take root
root on both side,
![\sqrt[40]{2} = (1+\frac{r}{4} )](https://tex.z-dn.net/?f=%5Csqrt%5B40%5D%7B2%7D%20%3D%20%281%2B%5Cfrac%7Br%7D%7B4%7D%20%29)





r = 6.992 %
Result:
The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Answer:
They are even numbers (divisible by two)
Step-by-step explanation:
The number column starts from 2 and is incremented by two for every number in the column. The remainder of the division of each number in the sequence is zero and the result of the division is sequence 1,2,3,4,5,6,7...
Therefore, the numbers in the column are even numbers.
4,8,12,16,20,24,28,32,36,40,44,48
Equation: 3x+9=42
3x=42-9=33
<span>Answer: x=33/3=11
Hope this helps!!
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Answer:
Step-by-step explanation:
The chines man ate the dog