Ask question

Ask question

All categories

4 years ago

12

A sum of money is invested at 12% compounded quarterly. About how long will it take for the amount of money to double?

1 answer:

Fofino [41]4 years ago

7 0

Follow the given formula. The initial amount of money invested, P, becomes 2P (same thing as "doubles) after t years. Since compounding is quarterly, n=4. The annual interest rate is 12%. That is, r=0.12.

Then we have 2P = P (1 + 0.12/4)^(4t) and need only solve for time, t.

Simplifying the above equation: 2 = (1.03)^(4t)

We must isolate 4t, and then isolate t. To do this, take the common log of both sides of the above equation. We get:

log 2 = (4t) log 1.03. This gives us 4t = [log 2] / [log 1.03], or

4t = 23.4498

Dividing both sides by 4, we get t = 5.86 (years).

You might be interested in

HOW do i solve this? <br><br> 7.42 ÷ 1.75

artcher [175]

Answer:

Step-by-step explanation:

You divide 7.42 / 1.75 = the answer is 4.24

7 0

3 years ago

Read 2 more answers

Find each measurement indicated. Round your answers to the nearest tenth. Please show your work. Part 2

uysha [10]

Answer:

4. 14.03 miles

5. 15.02 kilometers

6. 19.95 meters

Step-by-step explanation:

4. We need to use the law of sines, which states that for a triangle with angles A, B, and C and sides a, b, and c, respectively, then:

$\frac{a}{sinA} =\frac{b}{sinB} =\frac{c}{sinC}$

Here, a = 30, <A = 130, and <B = 21. So, let's plug these in:

$\frac{30}{sin130} =\frac{b}{sin21}$

b = AC = $\frac{30}{sin130}*{sin21}$ ≈ 14.03 miles

5. Here, c = 7, <C = 23, and <A = 123. We want to find BC, which is just a:

$\frac{7}{sin23} =\frac{a}{sin123}$

a = BC = $\frac{7}{sin23} *{sin123}$ ≈ 15.02 kilometers

6. Here, c = 22, <C = 88, and <B = 65. We want to find AC, which is just b:

$\frac{22}{sin88} =\frac{b}{sin65}$

b = AC = $\frac{22}{sin88} *{sin65}$ ≈ 19.95 meters

Hope this helps!

8 0

3 years ago

Read 2 more answers

Please help!!!!!!!!!!!!!!!

tamaranim1 [39]

Answer:

(y¹-y¹/x¹-x¹)

8-11/10-19

-3/-9

1/3

Step-by-step explanation:

1/3 or one-third is your answer!

7 0

3 years ago

on a scale drawing of a house a rectangular bedroom has a length of 8 inches and a perimeter of 30 inches...the scale is 0.5 inc

jeyben [28]

1.875
wow that is so complicated

4 0

3 years ago

Read 2 more answers

Use the fact that 2 1/2 divide 1/8 =20 to find 2 1/2 divide 5/8

Tasya [4]

Answer:

4

Step-by-step explanation:

Given that $2\frac 1 2 \div \frac 1 8 =20$

$\Rightarrow \frac 5 2 \div \frac 1 8 =20$

$\Rightarrow \frac 5 2 \times 8 1 =20 \cdots(i)$

Now, $2\frac 1 2 \div \frac 5 8$ $= \frac 5 2 \div \frac 5 8$ $=\frac 5 2 \times \frac 8 5$

This can be written as

$\frac 5 2 \times \frac 8 5=\frac 5 2 \times \left( \frac 8 1 \times \frac 1 5\right)$ [as $\frac 8 5=\frac 8 1 \times \frac 1 5$ ]

$=\left(\frac 5 2 \times \frac 8 1 \right)\times \frac 1 5$

$=20 \times \frac 1 5$ [ by using equation (i)]

=4

Hence, $2\frac 1 2 \div \frac 5 8=4$

7 0

3 years ago