Answer: 45
Step-by-step explanation:
The time required to get a total amount of $13,200.00 with compounded interest on a principal of $7,000.00 at an interest rate of 5.5% per year and compounded 12 times per year is 11.559 years. (about 11 years 7 months)
Answer:
t = 11.559 years
<h3>Compound Interest </h3>
Given Data
(about 11 years 7 months)
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 5.5/100
r = 0.055 per year,
Then, solve the equation for t
t = ln(A/P) / n[ln(1 + r/n)]
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.055/12)] )
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.0045833333333333)] )
t = 11.559 years
Learn more about compound interest here:
brainly.com/question/24924853
Step-by-step explanation:
We get two equations here. One for the area and one for the perimeter. The area gives us x×y=50. The perimeter, if we have a rectangle, x+y+x+y=30=2x+2y. For this to work we need to make a simple expression for x or y. Let's go with x here. 2x+2y=30 so x=15-y. if we fill that in the other equation we get (15-y)×y=50 (see picture). y=5 or y=10. If we fill in x×5=50 we get x=10 and vice versa. So the dimensions are 5 centimeters by 10 centimeters
