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:
Kindly check explanation
Step-by-step explanation:
Based on the infomation given :
Number of frozen fruit per box = 12
The number of people the makes up the committee should be given on other to obtain an exact answer.
To obtain the number of boxes of frozen fruits :
We divide the Number of committee members by the number of frozen fruits per box ; that is
1f number of committee members = x
Number of frozen fruits per box = 12
Number of boxes to order = x / 12
If number of committee members is given, substitute the number for X
Answer:
um I did the math and I got 5, so i dont really understand
Answer:
-6x + 15
Step-by-step explanation:
This should be your answer if you are doing distributive property.
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