Answer:
2.5
Step-by-step explanation:
5 divided by 2 is 2.5
The rule of 72 that represents the annual interest rate is defined below , the rate is 4.5% .
In the question ,
it is given that ,
Miguel is planning to retire after 16 years ,
and he wants to double his money ,
The Rule of 72 is a simplified formula , that is used to calculate the time that an investment will take to double the value , based on its rate of return .
By the rule of 72 ,
Number of years that would take an investment to double = 72/(rate of interest )
n = 72/r
given the time is 16 years .
16 = 72/r
r = 72/16
r = 4.5%
Therefore , The rule of 72 that represents the annual interest rate is defined below , the rate is 4.5% .
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Problem 10
The two functions <u>are inverses</u> of each other. Why? Because we can think of f(x) = (x-7)/(-2) as y = (x-7)/(-2).
Swap x and y to get x = (y-7)/(-2). Solving for y leads to y = -2x+7 showing that g(x) = -2x+7 is the inverse of f(x) = (x-7)/(-2). This process can be done in reverse to get the same result.
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Problem 11
y = a(6)^(t/2)
y = a( 6^(1/2) )^t
y = a(2.4494897)^t
y = a( b )^t
where b = 6^(1/2) = 2.4494897 approximately
Set b equal to 1+r and solve for r
1+r = 2.4494897
r = 2.4494897-1
r = 1.4494897
This rounds to about r = 1.45
The r value is the decimal form of the percentage, which means we move the decimal point over two spots to the right to get 145% approximately
Answers:
The equation is roughly y = a(1 + 1.4494897)^t
The growth rate is approximately 145%
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Problem 12
You have the correct answer. Nice work.
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Problem 13
You are very close to the correct answer. However, you're missing the base of the log.
The answer should be
. So you'll need to write in a small "49" under the log.
The general rule is that exponential equations in the form
are equivalent to the log version of
. For each equation, b is the base. The idea of logs is to isolate the exponent.
<span>Interest capitalization means adding the interest to the principal balance. To avoid that you need to keep the balance at or below $7800. Let's assume Henry wants to pay the minimum amount necessary to avoid interest capitalization. Then, since it compounds monthly at an APR of 5.6%, each month a certain amount is added to the balance.
That amount should be the yearly interest rate divided among the months in the year. Multiply that number by the principal to see how much interest accrues at the end of each month. That's what Henry needs to pay.</span>
Answer:
4/15
Step-by-step explanation:
13/15 - 6/10 = 4/15