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:
x^2 - xy + 1
Step-by-step explanation:
x^2 - xy + 2x/2x
2x/2x = 1
x^2 - xy + 1
This is the furthest we can simplify this expression with the given information.
Answer:
it is 40pi
Step-by-step explanation:
pi r^2 and you have 144 degrees shaded which is 40% of the circle.
You find the total volume to be 100pi and you divide by .4 (40%) to get 40pi as your answer
Answer:
it is 6 days
Step-by-step explanation:
Answer:
20 students
Step-by-step explanation:
If the class decreased by 15%, the students that she has now (17) represents a percentaje of:
100% - 15% = 85%
so<u> the 17 students are 85% of what she had</u>:
Students Percentage
17 ⇒ 85%
and we are looking for how many students she had 2 years ago, thus we are looking for the <u>100%</u> of students (the original number of studens). If we represent this number by x:
Students Percentage
17 ⇒ 85%
x ⇒ 100%
and we solve this problem using the <u>rule of three</u>: multiply the cross quantities on the table( 17 and 100) and then divide by the remaining amount (85):
x = 17*100/85
x = 1700/85
x=20
2 years ago she had 20 students