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balandron [24]
3 years ago
13

Suppose $600 is compounded yearly for 20 years. If no other deposits are made, what rate is needed for the balance to triple in

that time? Round your answer to the nearest hundredth of a percent.
Mathematics
1 answer:
denis-greek [22]3 years ago
4 0

Answer:

5.65%

Step-by-step explanation:

Principal=$600

Time=20 years

FV=600*3=$1800

n=1

r=?

r= n[(A/P)^1/nt - 1]

=1{(1800/600)^ 1/1*20 - 1}

={(3)^1/20-1}

=3^0.05-1

=1.0565-1

=0.0565

rate=0.0565*100

=5.65% to the nearest hundredth percent

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1. Find the sum of the measures of the interior angles of a convex 11-gon.
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For a convex 11-gon, we have;

sum of angles of a 11-gon = (11 - 2) x 180^{o}

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