The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Step-by-step explanation:
The given is,
Compounds money quarterly
Double your money in 10 years
Step:1
Formula to calculate future investment with compounded quarterly,
...............................(1)
Where, A - Future amount
P - Initial investment\
r - Rate of interest
n - No. of compounding in a year
t - No. of years
Step:2
Let, P = X
A = 2X ( Double your money )
From given, n - 4 ( for compounding quarterly )
t - 10 years
From equation (1)



Take root
root on both side,
![\sqrt[40]{2} = (1+\frac{r}{4} )](https://tex.z-dn.net/?f=%5Csqrt%5B40%5D%7B2%7D%20%3D%20%281%2B%5Cfrac%7Br%7D%7B4%7D%20%29)





r = 6.992 %
Result:
The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Answer:
= to
Step-by-step explanation:
a.
<K = <M = 50 ...Opposite angels are congruent
<K + <L = 180...Consecutive angles are supplementary
50 + <L = 180 so <L = 180 - 50 = 130
<L = <N = 130...Opposite angels are congruent
50 + <N = 180 so <N = 180 - 50 = 130
b.
MN = LK = 7...Opposite sides are congruent
KN = LM = 10...Opposite sides are congruent
I uploaded the answer to a file hosting. Here's link:
tinyurl.com/wtjfavyw