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MrRissso [65]
2 years ago
5

Find how many years it would take for an investment of $3700 to grow to $6000 at an annual interest rate of 6.2% compounded semi

-annually.
Mathematics
1 answer:
lorasvet [3.4K]2 years ago
7 0

Answer:

  7 years 11 months

Step-by-step explanation:

The future value formula for the value of a principal P invested at annual rate r compounded n times yearly for t years is ...

  FV = P(1 +r/n)^(nt)

For the given numbers, we want to find t:

  6000 = 3700(1 +.062/2)^(2t)

Dividing by 3700 and taking the logarithm, we get ...

  6000/3700 = 1.031^(2t)

  log(60/37) = 2t·log(1.031)

Dividing by the coefficient of t gives ...

  t = log(60/37)/(2log(1.031)) ≈ 7.92 . . . . . years

It will take about 7 years 11 months for the investment to grow to $6000.

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Answer:

18.84 feet.  let me know if you have ay other questions.

Step-by-step explanation:

The way to find the formula for circumference is kinda complicated so it is best to ust memorize the formula, which is 2πr.  or 2 times pi times the radius.  

Your problem gives you the formula, but instead of 2 and r in it you have d, which is the diameter.

The diameter of the circle is 2 times the radius, so that's why it is replaced.

the radius is the distance from the center fo the circle to one edge, and the diameter is the distance through the circle passing through its center.  so it's the center to one end plus the center to another end.  or r+r which is also 2r.

So d = 2r, so in this problem d =6 feet.

So now the formula πd = 3.14*6 feet = 18.84 feet

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