The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Step-by-step explanation:
The given is,
Compounds money quarterly
Double your money in 10 years
Step:1
Formula to calculate future investment with compounded quarterly,
...............................(1)
Where, A - Future amount
P - Initial investment\
r - Rate of interest
n - No. of compounding in a year
t - No. of years
Step:2
Let, P = X
A = 2X ( Double your money )
From given, n - 4 ( for compounding quarterly )
t - 10 years
From equation (1)



Take root
root on both side,
![\sqrt[40]{2} = (1+\frac{r}{4} )](https://tex.z-dn.net/?f=%5Csqrt%5B40%5D%7B2%7D%20%3D%20%281%2B%5Cfrac%7Br%7D%7B4%7D%20%29)





r = 6.992 %
Result:
The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Answer:
The area of the shape (trapezoid) is 55 square feet.
Step-by-step explanation:
The formula to get the area of a trapezoid is
. b1 is one of the bases, b2 is the other and h is the height.
First, you need to find the average of the bases:
(15+7=22)/2=11
Then, you multiply that by the height.
11*5=55
Lastly, you add the units.
55 square feet is the answer
Your answer is A!
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Answer:
B
Step-by-step explanation:
- 2 | 2 2 - 2 4
↓ - 4 4 - 4
--------------------------
2 - 2 2 0 ← remainder
Since the remainder = 0 then (x + 2) is a factor
quotient = 2x² - 2x + 2
Average change in altitude per minute
216.12÷2.4
=90.05m