What is value of x? Enter your answer in the box. x =
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Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Time period t = 45 years
- Compounded monthly n = 12
To determine:
- Principle amount P = ?
Using the formula
substituting A = 1000000, r = 0.06, t = 45, and n = 12
$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Solution
- The Range of a dataset is simply the difference between the largest number and the smallest number in the dataset.
- In the dataset given, the largest number is 12 while the smallest number is 3.
- Thus, the Range of the dataset is
Range = 9