For a single payment with compound interest, the equation to use is F=P(1+i)^n where F is the value after n periods, P is the present value, and i is the interest rate.
If we want the final value F to double given 5% per year interest, F=2P then i=5.
Solving for n:
2P=P(1+0.05)^n
2=(1.05)^n
log(base 1.05)2=n
n=14.206=14.21 years
I didn’t want to type it so I hope you can understand this
Answer: 0.0228
Step-by-step explanation:
please check photo explanation
C. Of the seventh graders, 30% are in the band. If the band has the same number of sixth graders as seventh graders, what percentage of the sixth graders are in the band? Explain how you found your answer.
8n+25=65
-25
8n=40
n=5 (answer choice a)