The future value (A) of a one-time investment of principal amount P at interest rate r compounded n times per year for t years is ...
... A = P(1 +r/n)^(nt)
Putting your given numbers into the formula, we have
... 876.34 = 300(1 +.06/4)^(4t)
Taking logarithms, this becomes the linear equation
... log(876.34) = log(300) + 4t·log(1.015)
Solving for t in the usual way, we get
... log(876.34) -log(300) = 4t·log(1.015) . . . . . . . subtract the constant term on the right
... (log(876.34) -log(300))/(4·log(1.015)) = t ≈ 18.00 . . . . divide by the coefficient of t
It will take <em>18 years</em> for the $300 CD to reach a value of $876.34.
Answer: Yep! This is true.
Explanation: Real number subsets also include irrational numbers, whole numbers, integers, and natural numbers.
Answer:
It’s 2+2=x 3x3=18 that’s the answer
Step-by-step explanation:
Answer:bh
345
Step-by-step explanation:
y is in direct proportion to x. x = 25, y = 5. Find the value of y, if x = 9.
Answer: 4.82 km
Step-by-step explanation:
You went for a run on Monday.
You then went on a run on Tuesday as well. On this day you ran 2.41 km and it is said that you ran the same distance on both days which means you ran for 2.41 km on Monday as well.
The total distance you ran is therefore:
= 2.41 + 2.41
= 4.82 km
