Answer the following regarding the letters in the word

The rule of 72 is used to determine how long it will take an investment to ___. For an Investment of $5,000 earning 7% annually,

Gnom [1K]

Answer:

The rule of 72 is used to determine how long it will take an investment to Double

For an Investment of $5,000 earning 7% annually, this will take about ten years

Step-by-step explanation:

The rule of 72 says that to find the number of years required to double your money at a given interest rate, you just divide 72 by the interest rate

Example:

If you want to know how long it will take to double your money at 9% interest, divide 72 by 9 you will get 8 years

The formula of the rule of 72 is Y = $\frac{72}{r}$

Let us complete the missing

The rule of 72 is used to determine how long it will take an investment to Double

The missing word is "Double"

∵ The investment is $5,000

∵ The annual interest is 7%

- By using the rule of 72

∵ Y = $\frac{72}{r}$

∵ r = 7

∴ Y = $\frac{72}{7}$

∴ Y = 10.29

- Round it to the nearest year

∴ Y ≅ 10 years

For an Investment of $5,000 earning 7% annually, this will take about ten years

The missing word is "ten"

5 0

3 years ago

The length of time that an auditor spends reviewing an invoice is approximately normally distributed with a mean of 600 seconds

Bumek [7]

Answer: 11.5%

Explanation:

Since 1 minute = 60 seconds, we multiply 12 minutes by 60 so that 12 minutes = 720 seconds. Thus, we're looking for a probability that the auditor will spend more than 720 seconds.

Now, we get the z-score for 720 seconds by the following formula:

$\text{z-score} = \frac{x - \mu}{\sigma}$

where

$t = \text{time for the auditor to finish his work } = 720 \text{ seconds}
\\ \mu = \text{average time for the auditor to finish his work } = 600 \text{ seconds}
\\ \sigma = \text{standard deviation } = 100 \text{ seconds}$

So, the z-score of 720 seconds is given by:

$\text{z-score} = \frac{x - \mu}{\sigma}
\\
\\ \text{z-score} = \frac{720 - 600}{100}
\\
\\ \boxed{\text{z-score} = 1.2}$

Let

t = time for the auditor to finish his work
z = z-score of time t

Since the time is normally distributed, the probability for t > 720 is the same as the probability for z > 1.2. In terms of equation:

$P(t \ \textgreater \ 720) 
\\ = P(z \ \textgreater \ 1.2)
\\ = 1 - P(z \leq 1.2)
\\ = 1 - 0.885
\\ \boxed{P(t \ \textgreater \ 720) = 0.115}$

Hence, there is 11.5% chance that the auditor will spend more than 12 minutes in an invoice.

8 0

3 years ago

A random experiment has three steps with three outcomes possible for the first step, two outcomes possible for the second step,

Elena L [17]

Answer: 6 outcomes

Step-by-step explanation: Since the first outcome is 2 and the second is 4 2 times 3 is ix since it is multiplying by 2 (2,4,6,8)

6 0

4 years ago

Read 2 more answers

a picture frame cube has a volume of 64 cubic cm. each of the six faces holds a picture of the same size as the face. what size

Alex

Answer: