3/20 as a decimal equivalent is <span>0.15</span>
Answer:
9.694 years
Step-by-step explanation:
Let the investment is $P.
So, we are asked to determine the time it will grow to triple with the compound interest rate of 12%.
Let the time is y years.
So, from the formula of compound interest we can write
⇒
⇒
Now, taking log both sides we get,
y log 1.12 = log 3 {Since,
}
⇒ 0.04922y = 0.477712
⇒ y = 9.694 years (Answer)
Answer: they are different the difference is 28
Step-by-step explanation:
The answer to the question is A
Maybe it’s consistent dependent