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Yuki888 [10]
3 years ago
5

Stuart put $99 into a CD that pays 2.6% interest, compounded monthly. According to the Rule of 72, approximately how long will i

t take for his money to double? Round to the nearest tenth. Show your work.
Mathematics
2 answers:
Temka [501]3 years ago
6 0

Answer:  27 years (approx)

Step-by-step explanation:

According to the Rule of 72,

If the product of interest rate and time is equal to 72, the amount will be doubled.

According to the question,

The annual rate = 2.6%

Let after t years the amount will be doubled.

Thus, 2.6 × t = 72

t = \frac{72}{2.6} = 27.6923076923

Since, the actual time will always less than the time gets by the 72 rule.

Thus, Approx 27 year after the amount will be doubled.


Taya2010 [7]3 years ago
4 0
72/2.6=27.7 years
Hope it helps :-)
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Andrej [43]
Hello!

Significant digits are defined as all digits that determine the value of a number, excluding any zeros that act as placeholders. Let's find the number of significant digits in each option individually:

A. 0.0009462 = 4 significant digits (the zeros are placeholders)
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D. 3.01255 = 6 significant digits

Looking at the list above, we can see that Option B has the greatest number (7) of significant digits.

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I hope this helps!
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3 years ago
SCALCET8 3.8.001.MI. A population of protozoa develops with a constant relative growth rate of 0.6137 per member per day. On day
Orlov [11]

Answer:

A population of protozoa develops with a constant relative growth rate of 0.6137 per member per day. On day zero the population · Q: For this discussion, you will work in groups to find the area and answer questions.

Step-by-step explanation:

3 0
3 years ago
Write the number in order starting with the smallest 1.06, 1.031,1.306,1.36
Diano4ka-milaya [45]
1.031, 1.06, 1.306, 1.36

If it helps, when you have something that only goes to the hundredths place, add a 0 to the end.
for example, 1.63= 1.630
6 0
3 years ago
Read 2 more answers
Tracy recieves payments of $X at the end of each year for n years. The present value of her annuity is 493. Gary receives paymen
vladimir1956 [14]

Answer:

v = 1/(1+i)

PV(T) = x(v + v^2 + ... + v^n) = x(1 - v^n)/i = 493

PV(G) = 3x[v + v^2 + ... + v^(2n)] = 3x[1 - v^(2n)]/i = 2748

PV(G)/PV(T) = 2748/493

{3x[1 - v^(2n)]/i}/{x(1 - v^n)/i} = 2748/493

3[1-v^(2n)]/(1-v^n) = 2748/493

Since v^(2n) = (v^n)^2 then 1 - v^(2n) = (1 - v^n)(1 + v^n)

3(1 + v^n) = 2748/493

1 + v^n = 2748/1479

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Step-by-step explanation:

6 0
4 years ago
Which of the follwing equations has a quotient with a remainder?
Reptile [31]

Answer: Choice 2) A, B, C

====================================

Explanation:

Use a calculator to find that,

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  • 1157/11 = 105.1818 approximately
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  • 37392/82 = 456

The first three results have a decimal portion as the answer. So there is a remainder here. The remainder is the leftover bit that couldn't make another full value. Only choice D results in a whole number that isn't a decimal value, so this does not have a remainder.

As a smaller example, let's say we had 20 cookies and 3 people. If we want to divide the cookies evenly, then each person gets 20/3 = 6 full cookies and there would be 2 cookies left over (6*3 = 18 are eaten so 20-18 = 2 is left over). Notice that 20/3 = 6.67 approximately. The non-whole number decimal value indicates we have a remainder. If we had 21 cookies, then each person gets 21/3 = 7 full cookies with nothing left over, so there's no remainder here.

4 0
3 years ago
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