Answer:Follow the given formula. The initial amount of money invested, P, becomes 2P (same thing as "doubles) after t years. Since compounding is quarterly, n=4. The annual interest rate is 12%. That is, r=0.12.
Then we have 2P = P (1 + 0.12/4)^(4t) and need only solve for time, t.
Simplifying the above equation: 2 = (1.03)^(4t)
We must isolate 4t, and then isolate t. To do this, take the common log of both sides of the above equation. We get:
log 2 = (4t) log 1.03. This gives us 4t = [log 2] / [log 1.03], or
4t = 23.4498
Dividing both sides by 4, we get t = 5.86 (years).
Step-by-step explanation: Mark me as brainliest
Answer:
Step-by-step explanation:
Answer:
It takes an account 5.4 years to earn $178.25 in interest with an annual interest rate of 5%.
Step-by-step explanation:
You can use the following formula to calculate the time it takes an account to earn a certain amount in interest:
t=(1/r)*((F/P)-1), where:
t= time
r= rate of interest= 5%
F= future value= 650+178.25=828.25
P= present value= 650
Now, you can replace the values on the formula:
t=(1/0.05)*((828.25/650)-1)
t=20*0.27
t=5.4
According to this, the answer is that it takes an account 5.4 years to earn $178.25 in interest with an annual interest rate of 5%.
Answer:
so u multiply negative four times nagative 1.5
the answer is 0.97 i hope I helped
