Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Elevated both sides to 1/18
convert to percentage
Multiply by 100
Answer:
19.2 years
Step-by-step explanation:
The formula to find the time in a compound interest that is compounded continuously is given as:
t = ln(A/P) / r
Where:
t = time in years = ??
A = Amount after Interest is compounded continuously = $100,000
P = Initial Amount in the retirement account = $10,000
r = Rate of return = 12%
First, convert R percent to r a decimal
r = R/100
r = 12%/100
r = 0.12 per year,
Then, solve our equation for t
t = ln(A/P) / r
t = ln(100,000.00/10,000.00) / 0.12
t = 19.188 years
Approximately t = 19.2 years
Yes if she rides her bike around 9 days each month she’ll be more than 500 miles in 6 months. (10 miles x 9 day x 6 months = 560miles)
Answer:
We are given the below probability distribution table:
x P(x)
100 0.180
200 0.051
300 0.227
400 0.113
500 0.090
600 0.099
700 0.165
800 0.075
Now to find the mean, we have to use the below formula:
Therefore, the mean is