1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zaharov [31]
2 years ago
12

If you invest in a mutual fund that pays annual interest compounded monthly over 5 years, what annual interest rate is needed to

double your invest in 5 year?​
Mathematics
1 answer:
grigory [225]2 years ago
4 0

Answer:

Step-by-step explanation:

This may seem a bit tricky because we are not given enough info really to plug in and solve for the rate.  We are told, however, that we are interested in doubling whatever amount we invested.  So it is up to us to pick an amount for P, then double it for A(t).  Let's use P = 1000 so A(t) = 2000.  Filling in then:

2000=1000(1+\frac{r}{12})^{(12)(5)} and

2000=1000(1+\frac{r}{12})^{60}

We need to get that r all by itself and right now it's quite buried.  Begin by dividing both sides by 1000 to get

2=(1+\frac{r}{12})^{60}

Now take the 60th root of both sides to get

1.01161944=1+\frac{r}{12}

Subtract 1 from both sides to get

.01161944=\frac{r}{12} and multiply both sides by 12 to finally get the rate in decimal form:

r = .13943328

To get that in a percent form, multiply it by 100:

r = 13.9%

You might be interested in
If m 6=51, then m 7=
Sophie [7]

Answer:

m 7=129

Step-by-step explanation:

if 6 and 7 are right next to each other. it makes 180 degrees so you would take 180-51 to get your answer

6 0
2 years ago
A puppy’s circular water bowl has a radius of 14 cm. Identify the two true statements.
avanturin [10]

Answer:

the diameter is 28 centimeters and the area is 97.4 centimeters

Step-by-step explanation:

the diameter is just the radius plus the radius so its 28

and i just solved for the area and got 97.4

6 0
3 years ago
The perimeter of a rectangular field is 328 yards. If the length of the field is 89 yards, what is its width?
miv72 [106K]

<u>Set up an equation based on the information given</u>

89 + 89 + x + x = 328

<u>Combine like terms</u>

89 + 89 = 178

x + x = 2x

2x + 178 = 328

<u>Solve</u>

2x + 178 = 328

328 - 178 = 150

2x = 150

x = 75

Answer

The width of the rectangular field is 75 yards.

7 0
3 years ago
Solve the following x/5=10<br>​
sergey [27]

Answer:

x = 50

Step-by-step explanation:

x/5 = 10

Multiply both sides of the equation by 5.

5(x/5) = 5(10)

x = 5(10)

x = 50

The value of x is 50.

6 0
3 years ago
Read 2 more answers
C an you simplify 5^-8 x 5^4
EastWind [94]

Answer:

1/625

Step-by-step explanation:

Exponent Rule: (b^m)(b^n) = b^{m+n}

Exponent Rule: b^{-m}=\frac{1}{b^m}

5⁻⁸ · 5⁴ = -8 + 4 = -4

5⁻⁴

1/5⁴

1/625

6 0
3 years ago
Other questions:
  • 3 (4x - 2) - 30 = -6 (6 - 2x) - 20
    14·1 answer
  • AP Statistics
    9·1 answer
  • The length of cherries vegetable garden is 6.56 meters. The width of the garden is 6.6 meters. What is the answer
    9·1 answer
  • What is the answer to this very difficult math question
    9·2 answers
  • an iPad was on sale for 3/4 of its original price. if the original price was 1000 what was the sale price?
    5·1 answer
  • Function c(x) = 5x<br><br> If your input was 2, what is your output?
    12·1 answer
  • If there where 10 apples and my frend took 6 how many do i have
    7·1 answer
  • Radius 8.1 cm and height 90 cm
    7·1 answer
  • Which graph shows the solution to the system of linear inequalities?
    15·1 answer
  • Lizette wanted to see if it would be possible to use a little less materials in a tea infuser but still not be required to be at
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!