The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
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Answer:
C
Step-by-step explanation:
x^2 + (x+3)^2 = 117
x^2 + x^2+6x+9 =117
2x^2 + 6x - 108 = 0
(2x-12)(x+9)=0
x=-9,6
x cannot be negative therefore, x = 6
Answer:
18-20=-2
Step-by-step explanation:
18-20=-2
18+(-20)=-2
Answer:
x = 2
Step-by-step explanation:
Taking antilogs, you have ...
2³ × 8 = (4x)²
64 = 16x²
x = √(64/16) = √4
x = 2 . . . . . . . . (the negative square root is not a solution)
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You can also work more directly with the logs, if you like.
3·ln(2) +ln(2³) = 2ln(2²x) . . . . . . . . . . . write 4 and 8 as powers of 2
3·ln(2) +3·ln(2) = 2(2·ln(2) +ln(x)) . . . . use rules of logs to move exponents
6·ln(2) = 4·ln(2) +2·ln(x) . . . . . . . . . . . . simplify
2·ln(2) = 2·ln(x) . . . . . . . . . . . subtract 4ln(2)
ln(2) = ln(x) . . . . . . . . . . . . . . divide by 2
2 = x . . . . . . . . . . . . . . . . . . . take the antilogs
