3 years ago

Find the time it would take to triple an initial deposit of $2,000 at an interest rate of 8%, compounded semi-annually

Mathematics

1 answer:

Mademuasel [1]3 years ago

3 0

It’s is 250 I hope I help have a nice night

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The given values are:

p = 22% = 0.22

Zc = 1.645 at 90% confidence level.

margin of error, E = 0.04

The formula we can use here is:

E = sqrt(pq/n) * Zc

0.04 = sqrt(0.22*(1-0.22)/n)*1.645

n = (0.22*(1-0.22))*(1.645/0.04)^2

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Free_Kalibri [48]

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so $990 will be the discount.

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Dmitry_Shevchenko [17]

Answer:

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