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:
a(n) = a(1) -3(n-1)
Step-by-step explanation:
Answer: hello your question is incomplete attached below is the missing part
answer : There is no slope
Step-by-step explanation:
To interpret the slope we plot a graph of Winter severity index vs Fawn count
slope = Δy / Δx = 0
attached below is the graph
There no slope because the graph is a curve and not a straight line graph
Answer:
30 ( I think so)
Step-by-step explanation:
Well, the total measurement 4 a triangle is 90. So 60 and 60 is 120 so it should be 30. If not I am sorry for being wrong.
Answer:
-259
Step-by-step explanation:
brainliest