How long does it take to double a $1,000 investment that pays 6.5% annual interest, compounded monthly?
2 answers:
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Answer:
30.5 hours
Step-by-step explanation:
If he were to average 8 hours PER week for 4 weeks, his total sum would have been:
8 * 4 = 32 hours
But he fell short of it. By how much?
By hours!
So, he practiced 1 1/2 hours LESS THAN 32 hours, so his practice time is:
So, <u>he practiced 30.5 hours in the 4 weeks</u>
Answer:
(a)There are 500 integers from 1 through 1,000 are multiples of 2.
There are 111 integers from 1 through 1,000 are multiples of 9.
(b)0.611
Step-by-step explanation:
Given the set of Integers from 1 through 1000
The least multiple of 2 is 2 and the highest multiple of 2 in the interval is 1000.
To determine the number of terms, we use the formula for the nth term of an Arithmetic Progression, since 2,4,6,... is an Arithmetic Progression,
where first term, a =2, common difference, d =2
Nth term of an A.P,
- There are 500 integers from 1 through 1,000 are multiples of 2.
Similarly,
Given the set of Integers from 1 through 1000
The least multiple of 9 is 9 and the highest multiple of 9 in the interval is 999.
To determine the number of terms, we use the formula for the nth term of an Arithmetic Progression, since 9,18,27,... is an Arithmetic Progression,
where first term, a =9, common difference, d =9
Nth term of an A.P,
- There are 111 integers from 1 through 1,000 are multiples of 9.
(b)Probability that an integer selected at random is a multiple of 2 or a multiple of 9.
There are a total of 1000 numbers between from 1 through 1,000
n(S)=1000
n(Multiples of 2)=500
n(Multiples of 9)=111
Therefore: