For a single payment with compound interest, the equation to use is F=P(1+i)^n where F is the value after n periods, P is the present value, and i is the interest rate.
If we want the final value F to double in 5 years, F is then equal to P then n=5. The equation is now:
2P=P(1+i)^5
2=(1+i)^5
i=14.87% per year

The answer will be the third one: Yes, because the total will be $37.50.
Answer:
$108
Step-by-step explanation:
<u>Use the equation i = prt </u><u>(interest = principle*rate*time)</u><u>:</u>
Principle: $900
Rate: 0.06 (6%)
Time: 2 years
<u>Put it all in an equation:</u>
i = 900*0.06*2
i = $108
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Answer:

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Step-by-step explanation:
We are solving the expression: 
Solve:

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Answer:
A
Step-by-step explanation: