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aleksklad [387]
2 years ago
7

Jon has $5,000 to invest in a savings account that has interest compounded annually. If he wants his money to double in eight ye

ars, what percent must the interest rate be on the account?
Mathematics
1 answer:
ioda2 years ago
4 0
<span>log(1 + rate) = {log(total) -log(Principal)} ÷ Years
</span>
<span>log(1 + rate) = {log (10,000) - log (5,000)} / 8

</span><span>log(1 + rate) = {4 - 3.6989700043} / 8
</span>
<span><span>log(1 + rate) = 0.3010299957 </span> / 8

</span><span><span><span>log(1 + rate) = 0.0376287495 </span> </span> </span> 

Now we take 10 and raise it to the power of <span>0.0376287495

10 ^ </span>0.0376287495 = <span> <span> <span> 1.0905077327 </span> </span> </span>

We subtract one:
<span> <span> .0905077327
then multiply it by 100
</span></span><span><span>9.05077327</span>%

Source:
http://www.1728.org/compint2.htm

</span>
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Norma-Jean [14]
100, because in 3,492, it is in the hundreds place. In 704, it is in the one's place. 100/1 is 100. So 100 times greater.
4 0
3 years ago
Solve the exponential equation for x<br> 64^7x-8 = 1
SOVA2 [1]

X=9/64^7

Hope this helps

7 0
3 years ago
Read 2 more answers
If a coin is tossed and a number cube is rolled what is the probability of getting heads and the number cube shows 3?
Maurinko [17]

Answer:

1/12

Step-by-step explanation:

Since the probability of getting heads is 1/2 and the probability of the number cube getting three is 1/6, we multiply.

For every coin flip, there is a 1/6 chance of getting a three. But since there is another condition, we have to multiply. Multiplying both fractions make 1/12.

4 0
2 years ago
PLEASE HELP I WILL MARK BRILLIANT WHOEVER CAN ANSWER this question And I will only accept if you explain with a well answer Than
Sveta_85 [38]
Move it to the right 1 unit and up 3 units
3 0
3 years ago
A projectile is launched from ground level with an initial velocity of v0 feet per second. Neglecting air resistance, its height
elena-s [515]
The formula is s=-16t^2+V_ot

We have:
s=64
V_o=80ft/s

Substituting these values into the formula, we have

64=-16t^2+80t

16t^2-80t+64=0 ⇒ divide each term by 16

t^2-5t+4=0 ⇒ find the pair of numbers that multiply to give 4 and sum gives -5 which is -1 and -4

(t-1)(t-4)=0 ⇒ We have two values of t

t-1=0 ⇒ t=1
t-4=0 ⇒ t=4

The time when the projectile reached 64 feet is at t=1 and t=4



6 0
3 years ago
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