Answer:
10.4%
Step-by-step explanation:
Sung Lee invests $3,000 at age 18.
He hopes the investment will be worth $6,000 when he turns 25, that is, after 7 years.
The interest compounds (Compound Interest). The formula for the final amount in a compound interest is:
where P = Principal (Amount invested) = $3000
A = final amount = $6000
R = rate
T = number of years = 7 years
This implies that:
Find the 7th root of 2:
=> R = 10.4%
Hence, the rate would need to be 10.4% for him to achieve his goal.
58+28=86.
8+8=16
5+2=7
take the 1 from 16 and add it onto the 7
1+7=8: thats the tens place.
Now we only have 6. So thats the ones place. Combine the two numbers and you get 86.
What they said at the top
The first few multiples of 8 are: 8, 16, 24, 32, 40, and 48. The first multiples of 12 are: 12, 24, 36, 48, 60, and 72.
Common multiple of 8 and 12 are 24 and every subsequent multiple of 24.
As 8×3=24
12×2=24
So 24 is a common multiple of 8 and 12 this means the other common multiples of 8 and 12 are the multiples of 24 like 48, 72, 96 etc.