Let's first create an equation. We'll set out total, <em>t</em>, equal to our initial value times d, or days, for each additional day.
That means that we have 1.39 as our initial, upfront value. It's not affected by anything else, and is a one-time payment. For each additional day, we have to pay 50 cents, so to find our how much in a given day, we use:
t = 1.39 + .50d
We multiply the .50 times each day because every day, we pay 50 cents for each additional day.
Now, we can plug in 6 for d. We plug in 6 because we've already accounted for one day with that one-time initial value. We have:
It would take 10 years for the given sum of money be doubled at the given simple interest rate.
Step-by-step explanation:
A 10% interest would be added to the the principal amount after each year. So the interest would reach 100% i.e. equal to the principal amount in 10 years.
The equation would be 4+x 13. Subtract 4 from both sides. The four on the left would cancel out and the 13 on the right would now be a 9. Therefore, the answer is