What is the geometric mean of 5 and 7?
1 answer:
<h3>Geometric mean of 5 and 7 is 5.9161</h3>
<em><u>Solution:</u></em>
Given that,
We have to find the geometric mean of 5 and 7
The geometric mean of two numbers a and b is the square root of product of a and b
Which means,
Thus geometric mean of 5 and 7 is 5.9161
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The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.
Step-by-step explanation:
The given is,
Future value, F = $15,000
Interest, i = 5.9%
( compounded continuously )
Period, t = 12 years
Step:1
Formula to calculate the present with compounded continuously,
...............(1)
Substitute the values in equation (1) to find the P value,
( ∵
)
( ∵
)
We change the P (Present value) into the left side,
≅ 7389.43
P = $ 7389.43
Result:
The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.