Answer Interest rate = 12.3%
The compound interest formula is given by:
Where
A = Future amount
P = Present amount (Principal amount)
r = Interest rate in decimal form
n = No. of times compounded per year
t = time in years.
We can say that if:
Present amount = P
Future amount = 3P
r = 12.3/100 = 0.123
n = 1
t = ?
Substitute the values in the formula of compound interest:
Taking log on both sides.
Round off to nearest option
t ≅ 9 years
Answer:
5 degrees
Step-by-step explanation:
Answer:
50% increase.
Step-by-step explanation:
(New Value - Initial Value)/(Initial Value) * 100 = percentage increase or decrease
(The formula)
Answer: The numbers are 14, 16 and 18.
Step-by-step explanation: First thing to note is that consecutive even numbers have a difference of 2 units between every two terms. That is, if the first number is a, the next would be a + 2, and the next would be a + 4, and so on.
Therefore the three consecutive even numbers shall be a, a + 2, and a + 4.
Our equation now becomes;
a + a + 2 + a + 4 = 48
3a + 6 = 48
Subtract 6 from both sides of the equation
3a = 42
Divide both sides of the equation by 3
a = 14
Therefore, the numbers are 14, 16 and 18.
Well if the interest is compounding yearly at 3.5% the amount would be $25,130.23
