Answer:
b
Step-by-step explanation:
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The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
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Answer:
CI = 3.931 < μ < 8.069
Step-by-step explanation:
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Answer:
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Answer:
The point of intersection withe x-axis is (0.2 , 0)
The point of intersection with y-axis is (0 , -2.6)
Step-by-step explanation:
∵ y = 13x - 2.6
* When the line represents y = 13x - 2.6 cross the x-axis at point (x , 0) and cross y-axis at point (0 , y)
* To find the point (x , 0) substitute y = 0 in the equation
∵ 0 = 13x - 2.6
∴ 13x = 2.6 ⇒ x = 2.6 ÷ 13
∴ x = 0.2
∴ The line cross x- axis at point (0.2 , 0)
* To find the point (0 , y) substitute x = 0 in the equation
∵ y = 13(0) - 2.6
∴ y = -2.6
∴ The line cross y- axis at point (0 , -2.6)