Help please? And show work?

A bank advertises that it compounds money quarterly and that it will take Double your money in 10 years. what is the interest-ra

S_A_V [24]

The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.

Step-by-step explanation:

The given is,

Compounds money quarterly

Double your money in 10 years

Step:1

Formula to calculate future investment with compounded quarterly,

$A =P(1+\frac{r}{n} )^{nt}$ ...............................(1)

Where, A - Future amount

P - Initial investment\

r - Rate of interest

n - No. of compounding in a year

t - No. of years

Step:2

Let, P = X

A = 2X ( Double your money )

From given, n - 4 ( for compounding quarterly )

t - 10 years

From equation (1)

$2X =X(1+\frac{r}{4} )^{(4)(10)}$

$\frac{2X}{X} =(1+\frac{r}{4} )^{(4)(10)}$

$2 =(1+\frac{r}{4} )^{40}$

Take root $40^{th}$ root on both side,

$\sqrt[40]{2} = (1+\frac{r}{4} )$

$1.017479692 = (\frac{4+r}{4} )$

$(1.017479692)(4) = (r+4)$

$4.06992=(r+4)$

$r = 4.06992 -4$

$r =( 0.06992)(100)$

r = 6.992 %

Result:

The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.

3 0

2 years ago

In the diagram below of parallelogram ROCK, m angle is 70 degrees and m angle ROS is 65 what is the value of x

il63 [147K]

Answer:

135

Step-by-step explanation:

5 0

3 years ago

Slope : - 9/7 point : ( -7,4 )

dolphi86 [110]

To form an equation with the given information, we use the formula :

y = mx + b, m being the slope and b being the y-intercept.

Since it is given that the slope is -9/7, we substitute m with -9/7.

y = -9/7x + b

To find b, we will substitute the known coordinates into the equation :
At point (-7 , 4), x = -7, y = 4

4 = -9/7 (-7) + b
4 = 9 + b
b = 4 - 9
b = -5

Now we know that b = -5, we will substitute b = -5 into the equation that we found earlier, y = -9/7 x + b :

y = - 9/7x - 5

To make it more readable, we can multiply the equation by 7:
7y = -9x - 5
7y + 9x + 5 = 0

-----------------------------------------------------------
Answer : 7y + 9x + 5 = 0
-----------------------------------------------------------

7 0

3 years ago

Student performance across discussion sections: A professor who teaches a large introductory statistics class (197 students) wit

adell [148]

Answer:

The test is not significant at 5% level of significance, hence we conclude that there's no variation among the discussion sections.

Step-by-step explanation:

Assumptions:

1. The sampling from the different discussion sections was independent and random.

2. The populations are normal with means and constant variance

$H_0:$ There's no variation among the discussion sections

$H_1:$ There's variation among the discussion sections

$\alpha =0.05$

Df Sum Sq Mean sq F value Pr(>F)

Section 7 525.01 75 1.87 0.99986

Residuals 189 7584.11 40.13

Test Statistic = $F= \frac{75}{40.13} =1.87$

$Pr(>F) = 0.99986$

Since our p-value is greater than our level of significance (0.05), we do not reject the null hypothesis and conclude that there's no significant variation among the eight discussion sections.

3 0

2 years ago

Can someone help me? It’s the factory one

alekssr [168]

3.21 it should be at least

3 0

3 years ago

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