Answer:
It will double in the year 2063
Step-by-step explanation:
Let the amount deposited be $x, when it doubles, the amount becomes $2x
we can use the compound interest formula to know when this will happen
The compound interest formula is as follows;
A = P(1+r/n)^nt
In this question,
A is the amount which is 2 times the principal and this is $2x
P is called the principal and it is the amount deposited which is $x
r is the interest rate which is 3.2% = 3.2/100 = 0.032
n is the number of times compounding takes place per year which is quarterly which equals to 4
t is the number of years which we want to calculate.
Substituting all these into the equation, we have;
2x = x(1+0.032/4)^4t
divide through by x
2 = (1+ 0.008)^4t
2 = (1.008)^4t
we use logarithm here
Take log of both sides
log 2 = log (1.008)^2t
log 2 = 2t log 1.008
2t = log 2/log 1.008
2t = 86.98
t = 86.98/2
t =43.49 which is 43 years approximately
Thus the year the money will double will be 2020 + 43 years = 2063
Answer: 7/8
Step-by-step explanation:
If you turn 1 3/4 into a improper fraction the equation is 7/4 times 1/2. 7•1=7 and 4•2=8 so your answer is 7/8.
Answer: $13.91
Sales tax = you add that price for ever 100 cents spent.
To find the sales tax, you should multiply.
13 x 7 = 91.
Add 13 and 91. You get $13.91.
Answer = 13.91
The complete question in the attached figure
we know that
triangle OBR is a right triangle
so
<span>applying the Pythagorean theorem
</span>OB²=OR²+RB²----> OB²=3²+4²-----> 25
OB=√25-----> OB=5 units
the answer is OB=5 units
