Answer:
Number of year to get $10,000 as interest = 7.5 year (Approx)
Step-by-step explanation:
Given:
Initial investment = $20,000
Interest on investment = $10,000
Rate of interest = 5.6% = 0.056
Find:
Number of year to get $10,000 as interest:
Computation:
![Interest\ on\ investment = Initial\ investment[(1+r)^n-1]\\\\10,000 = 20,000[(1+0.056)-1]\\\\0.5=(1.056)^n-1\\\\1.5 =(1.056)^n\\\\n=7.44](https://tex.z-dn.net/?f=Interest%5C%20on%5C%20investment%20%3D%20Initial%5C%20investment%5B%281%2Br%29%5En-1%5D%5C%5C%5C%5C10%2C000%20%3D%2020%2C000%5B%281%2B0.056%29-1%5D%5C%5C%5C%5C0.5%3D%281.056%29%5En-1%5C%5C%5C%5C1.5%20%3D%281.056%29%5En%5C%5C%5C%5Cn%3D7.44)
Number of year to get $10,000 as interest = 7.44
Number of year to get $10,000 as interest = 7.5 year (Approx)
Answer:
Do you have answer choices
Step-by-step explanation:
Answer:
Answer in decimal is 5.6 or 56/100 as a fraction
Answer in decimal is 0.66666666666 or 2/3 as a fraction
Step-by-step explanation:
Just either add or subtract the fractions, whichever one you have to do.
Hope this helps, have a good day. c;
Answer:
75
Step-by-step explanation:
divide the interest by the amounts of years
Answer:
E
Step-by-step explanation:
