Ask question

Ask question

All categories

rosijanka [135]

3 years ago

8

If $10,000 is placed in an investment paying 4.8% yearly interest compounded annually, how long will it take for the account to

double?

1 answer:

vaieri [72.5K]3 years ago

4 0

Answer:

15 years.

Step-by-step explanation:

We have the equation:

20000 = 10000(1 + 0.048)^t where t is the number of years.

1.048 t = 20000/10000 = 2

Taking logs:

t ln 1.048 = ln 2

t = ln 2 / ln 1.048

t = 14.78

You might be interested in

Mustafa’s horse ate 6,400 pounds of hay last year. How could Mustafa determine the number of tons of hay his horse ate last year

Alona [7]

Answer:

by dividing 6,400 by 2,000

Step-by-step explanation:

We know that 2000 pounds equals 1 ton

To convert 6400 pounds to tons, we need to

6400 pounds * 1 ton/2000 pounds

Divide 6400 by 2000

3 0

3 years ago

tia_tia [17]

2,700 / 12 = 225
225 / 5 = 45
They can make 45 necklaces.

3 0

3 years ago

The difference of a number times 2 and 3 equals 8.

laiz [17]

I think the answer is 2 but I'm not sure

8 0

2 years ago

Read 2 more answers

Two buses leave Houston at the same time and travel in opposite directions. One bus averages 55 mi/h and the other bus averages

Veronika [31]

Well you can just keep adding 55 =1hr until you get to 400 the same with 45

6 0

3 years ago

a student has answered 82% of the questions correctly in the examination. He made mistakes in 9 questions Calculate the toltal n

Sonja [21]

Answer:

There is a total 50 questions.

Step-by-step explanation:

Let x = total questions in the exam

Since 82% of the test was scored correctly, that means 18% of the student's exam was scored incorrectly.

With this information we can write:

$18\%x=9$ (Given that the student made 9 mistakes)

$x=9\div18\%$ (divide 18% on both sides)

$x=50$

∴ There was a total of 50 questions in the examination.

5 0

3 years ago