Answer:
The time required to get a total amount of $ 640.00 from compound interest on a principal of $ 440.00 at an interest rate of 5.6% per year and compounded 365 times per year is approximately 7 years.
Step-by-step explanation:
Given
- Principle Amount P = $440
- Interest rate r = 5.6% = 0.056
To determine:
Time period t = ?
Using the formula
solving for t
t = ln(A/P) / n[ln(1 + r/n)]
substituting the values A = 640, P = 440, n = 365 and r = 0.056
t = ln(640/440) / ( 365 × [ln(1 + 0.00015342465753425/365)] )
t = 6.691
t ≈ 7 (nearest year)
Therefore, the time required to get a total amount of $ 640.00 from compound interest on a principal of $ 440.00 at an interest rate of 5.6% per year and compounded 365 times per year is approximately 7 years.
Answer:
there
Step-by-step explanation:
Simon ran slower than 1 mile every 5 minutes.
Because 33 / 5.5 = 6. So he ran 1 mile every 6 minutes, not 5.
Answer:
What do you want to know
Step-by-step explanation:
Please tell me so I can help you!! :)
Answer:
Step-by-step explanation:
Average of x-coordinates = (8+3)/2 = 5.5
Average of y-coordinates = (5+7)/2 = 6
Midpoint at (5.5,6)