The money will be triple after 15 years and 303 days.
What is compound interest?
Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit.
Given:
Principle (P) = $10,000
The amount will be triple.
So, Amount (A) = $30,000
Rate (r) = 7% = 0.07
The interest is compounded quarterly.
n = 4
We have to find the value of t.
Let,
Apply logarithm on both sides,
Hence, the money will be triple after 15 years and 303 days.
To know more about compound interest, click on the link
brainly.com/question/24274034
#SPJ4
Answer:
0 What is (766*67*89*8*9*87656*7*908786*5*687*78*87*797*87897*8989*089*7654*4*367567*98097987567544*535*567*9*8*6787)0(5*64543534*243467*5*9*7675*643*23*65*878778776546453*53*467*798*89*675*546*32*53*6465*8*76546*34)
Step-by-step explanation:
Answer: 250
Step-by-step explanation:
Answer:
192.1%
Step-by-step explanation:
The formula for the amount of interest is ...
i = Prt . . . . . where i is the interest amount, P is the principal, r is the annual rate, and t is the number of years. (Here, we have a fraction of a year.)
Solving for the rate, we have ...
r = i/(Pt)
For "exact" interest, we use 365 days in the year. So, for a time of 19 days of 365, the interest rate is ...
r = $35/($350·19/365) ≈ 1.921 = 192.1%
The answer to your question is 6u-5/21u-5
