The rate that will double Lars deposit of $50 in 29 years will be calculated as follows: Suppose the account used was using compound interest. Thus to determine his future value we shall use the formula: FV=P(1+r)^n where: FV is future value p=principle r=rate n=periods from the information given FV=$100 p=$50 n=29 years we are required to find r thus 100=50(1+r)^29 100/50=(1+r)^29 2=(1+r)^29 2^(1/29)=1+r 1.02419=1+r hence: r=0.02419~2.419%
The area of scale drawing of the classroom using the scale factor of 3 cm per foot that has 18 feet length and has 20 feet width is 40 squared cm. This is computed by dividing first the sides by 3 and multiply the result to each other.
