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Anika [276]
3 years ago
12

Hector invests $20,000 at age 21. He hopes the investment will be worth $200,000 when he turns 40. If the interest compounds con

tinuously, approximately what rate of growth will he need to achieve his goal? Round to the nearest tenth of a percent.
Mathematics
2 answers:
KiRa [710]3 years ago
8 0

Answer:

12.12%

Step-by-step explanation:

We have that the formula is given by:

A = p * e ^ (r * t)

From here, we know that A = 200000; p = 20000 and the time we can calculate 40 - 21 = 19

if we replace we have:

200000 = 20000 * e ^ (19 * r)

we must calculate r:

e ^ (19 * r) = 200000/20000

e ^ (19 * r) = 10

19 * r = ln 10

r = ln 10/19

r = 0.1212

In other words, the rate of growth is 12.12%

Elis [28]3 years ago
7 0

Answer:

12.1%

Step-by-step explanation:

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Imagine you are given the diameter of a circle and asked to find its volume. Select the statement that describes what you should
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We need to take the diameter and divide by 2 to find the radius

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$175 for 5 football game tickets how much is per ticket
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8 0
3 years ago
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How much cashews at $1.58 per pound must be mixed with walnuts that cost 78 cents per pound to make a mixture of 40 pounds of nu
Likurg_2 [28]

Number of pounds of cashews is 36 pounds and number of pounds of walnuts is 4 pounds.

Step-by-step explanation:

  • Step 1: Given details are cost of cashews = $1.58, cost of walnuts = 78 cents = $0.78, total weight of nuts = 40 pounds, cost of nuts per pound = $1.50
  • Step 2: Let number of pounds of cashews to be mixed be C, then number of pounds of walnuts will 40 - C. Form equation with these variables.

⇒ 1.58 C + (40-C) 0.78 = 40 × 1.50

⇒ 1.58 C + 31.2 - 0.78 C = 60

⇒ 1.58 C - 0.78 C = 60 - 31.2

⇒ 0.8 C = 28.8

⇒ C = 36 pounds

  • Step 3: Calculate number of pounds of walnuts

⇒ Number of pounds of walnuts = 40 - C = 4 pounds

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3 years ago
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