Ask question

Ask question

All categories

3 years ago

14

At approximately what rate would you have to invest a lump-sum amount today if you need the amount to triple in six years, assum

ing interest is compounded annually?

1 answer:

marissa [1.9K]3 years ago

7 0

3p=p(1+r)^6
3=(1+r)^6
R=3^(1/6))-1=0.2*100=20%

You might be interested in

Heather has divided $5400 between two investments, one paying 8%, the other paying 5%. if the return on her investment is $

Phantasy [73]

Answer:

$2500 at 8%.

$2900 st 5%.

Step-by-step explanation:

Let x be the amount invested at rate of 8% and y be the amount invested at the rate of 5%.

We have been given that Heather has divided $5400 between two investments. We can represent this information as:

$x+y=5400...(1)$

The return on her investment is $345.

Earnings from the investment at 8% will be 8% of x.

Earnings from the investment at 5% will be 5% of y.

$(\frac{8}{100})x+(\frac{5}{100})y=345...(2)$

$0.08x+0.05y=345...(2)$

We will use substitution method to solve our system of equations. From equation (1) we will get,

$x=5400-y$

Substituting this value in equation (2) we will get,

$0.08(5400-y)+0.05y=345$

$432-0.08y+0.05y=345$

$-0.08y+0.05y=345-432$

$-0.03y=-87$

$\frac{-0.03y}{-0.03}=\frac{-87}{-0.03}$

$y=2900$

Therefore, Heather has invested an amount of $2900 at 5%.

Let us substitute y=2900 in equation (1) to solve for x.

$x+2900=5400$

$x+2900-2900=5400-2900$

$x=2500$

Therefore, Heather has invested an amount of $2500 at 8%.

6 0

3 years ago

Please help i’ll give brainliest please !

JulsSmile [24]

Answer:

a theory explaining the structure of the earth's crust and many associated phenomena as resulting from the interaction of rigid lithospheric plates which move slowly over the underlying mantle.

Step-by-step explanation:

8 0

3 years ago

Read 2 more answers

Find the length of the unknown side . round your answer to the nearest tenth

katovenus [111]

Answer:

20cm or A

Step-by-step explanation:

pythagorean theorem

25^2=15^2+b^2

625=225+b^2

b^2=400

b=20

3 0

3 years ago

Read 2 more answers

What is the value of X?

zhenek [66]

Tough sorry wish I could help u can’t too hard but I think it is equivalent to the other triangle so I think it’s 31? I THINK

7 0

4 years ago

Read 2 more answers

2.5 x 10 to the third power times what number is equal to 5 x 10 to the sixth power?

Taya2010 [7]

Answer:

2 is the number because half of 5 is 2.5

4 0

3 years ago