Answer:
162
Step-by-step explanation:
Option 3 is the equivalent function.
1.04 to the 4th power is 1.1699
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Present value, PV = $500
Future value, FV = 2*PV = 2*500 = $1,000
Rate, r = 4% = 0.04
Compounding times in a year, n = 4 (compounded quarterly)
Time, t = ??
The future value expression is stated as:
FV = PV (1+r/n)^nt
Substituting;
1000 = 500 (1+0.04/4)^4t
2 = (1.01)^4t
ln 2 = 4t ln 1.01
0.6931 = 4t* 0.00995
0.6931 = 0.0398t
t = 17.414 years
Time required for the amount to double is 17.41 years.
Answer:
7.00
Step-by-step explanation:
so you have to round to the narest 0.01 the easy way to do it is round to the hundreth place. And you will get your answer which is 7.00
Answer:
(30-6) ÷1.25
Step-by-step explanation:
30-6=24
|
24÷1.25=19.2
↓
you round that and you get 19
