Can you put a picture of the full question please!
Multiply both sides by 4
subtract 24r from both sides
simplify r - 24r to -23r
divide both sides by -23
two negatives make a positive
simplify 14/5/23 to 14/5 x 23
simplify 5 x 23 to 115
switch sides
Answer: r = 14/115.
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.
“Three decimal places” is the same as “the nearest thousandth.” So, for example, if you are asked to round 3.264 to two decimal places it means the same as if your are asked to round 3.264 to the nearest hundredth. Some questions, like the example below, will ask you to “show your answer correct to two decimal places."
Answer:
$0.80
Step-by-step explanation:
Find the unit rate
1 apple costs ?
1.20/6 = cost of 1 apple
1 apple = $0.20
4 apples = $0.20 * 4
4 apples = $0.80