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Answer:
20.4 years
Step-by-step explanation:
The nper formula in excel comes handy in this scenario:
=nper(rate,pmt,-pv,fv)
Rate is the monthly rate of 5.4%/12
Assuming actual investment is $5,000 which is pv
The triple amount would be $5,000*3=$15,000 which is future value fv.
pmt is the regular cash flow the investment which is zero
=nper(5.4%/12,0,-5000,15000)= 244.68 months
Yearly it can be expressed as = 244.68/12 =20.39 years
When rounded to one decimal place it becomes 20.4 years
Answer:
n-3
Step-by-step explanation:
for every input, the output is three less (4-3=1, 7-3=4, 8-3=5). That rule needs to stay consistent, so no matter what the input is (n), the output is always going to be three less than, making it y or output=n-3
A Credit union is a group of people who agree to save their money together and to make loans to each other at a relatively low rate of interest. <span />
Answer:
7.5
Step-by-step explanation:
Divide 30 by 3.99
