1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ann [662]
1 year ago
10

Use the formula for compound interest, a P 1 i n = ^ h + , to determine how many years it will take for an investment of W10 000

to triple if the interest rate is 7% per year, compounded quarterly. [Hint: There is a yearly interest rate that is compounded quarterly. Search "interest calculator" online to check the answer
Mathematics
1 answer:
Sergeu [11.5K]1 year ago
6 0

The money will be triple after 15 years and 303 days.

What is compound interest?

Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit.

Given:

Principle (P) = $10,000

The amount will be triple.

So, Amount (A) = $30,000

Rate (r) = 7% = 0.07

The interest is compounded quarterly.

n = 4

We have to find the value of t.

Let,

A = P(1+\frac{r}{n})^n^t\\ 30000 = 10000(1+\frac{0.07}{4})^4^t\\\frac{30000}{10000} = (1 + 0.0175)^4^t\\ 3 = (1.0175)^4^t

Apply logarithm on both sides,

log(3) = log(1.0175)^4^t\\log(3) = 4t log(1.0175)\\t = \frac{log(3)}{4(log(1.0175))} \\t = \frac{0.4771212547}{4(0.0075344179)} \\t = \frac{0.4771212547}{0.0301376716} \\t = 15.83139

Hence, the money will be triple after 15 years and 303 days.

To know more about compound interest, click on the link

brainly.com/question/24274034

#SPJ4

You might be interested in
A circle has its centre at the origin and has a radius of 5.<br>What is its equation?​
Step2247 [10]
Formula is (x-h)2+(y-k)2=r2
6 0
2 years ago
Need the answer fast
Westkost [7]
Your answer should be 97 bb
5 0
2 years ago
Read 2 more answers
Sam is creating triangle ABC using straws. He has two straws that measure 8 inches and 6 inches. The third straw must be less th
Tanzania [10]

Answer:

I think less than 14

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
Sam purchases a used video game for GameStop. In order to make a profit,
Lady bird [3.3K]

Answer:

$22.50

Step-by-step explanation:

50/100 = x/45

cross multiply

50 × 45 = 100 × x

2250 = 100x

divide both sides by 100

22.5 = x

*note: marksup the price means that $45 should be more than what the value of x is. $45 is more than $22.50. you can also check your work by looking at the fact $22.50 is exactly half (50%) the amount of $45*

6 0
2 years ago
Plz Help I do not understand this
loris [4]

Hello,

So Y variable is what you would start with.


20 <= he'll start off with for a

40 <= what he'll start off with for b




And X variables would be the # of hours you're working.


10 <= meaning every hour worked is worth 10 dollars

5 <= meaning every hour worked will be paid 5 dollars



So let's just say for option a he works two hours

(Option A)

10 (2) + 20

20 + 20

= 40


(Option B)

5 (2) + 40

10 + 40

50



As for your equations

Y = 10x + 40


Y= 5x + 40



3 0
2 years ago
Other questions:
  • A preimage includes a line segment of length x and slope m. If the preimage is dilated by a scale factor of n, what are the leng
    10·1 answer
  • The data are the number of machines in a gym. You sample five gyms. One gym has 12 machines, one gym has 15 machines, one gym ha
    13·1 answer
  • The surface area of a closed right circular cylinder whose 5 inches and height is 12 inches is givern approximately by 2x3.1416x
    12·1 answer
  • The dot plot shows how many swimmers are in each line at a waterpark:
    6·2 answers
  • What is bigger 25 yards or 75 feet
    10·2 answers
  • The sum of two numbers is 51 and the greater number is twice the smaller number. Find the numbers.
    12·1 answer
  • Simplify: -(16 - 5x) 5×-16/ 5× + 16 / -5×-16/ -5 + 16​
    9·1 answer
  • -7 2/3+(-5 1/2) +8 3/4=
    6·2 answers
  • 00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
    15·1 answer
  • The pentagons ABCDE and JKLMN are similarFind the length x of MN.MADM27183827K
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!