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3 years ago

Jordyn saved $75 in two months. If Jordyn continues saving at this rate, how much will she have saved in 12 months?$_________ *

Mathematics

1 answer:

Studentka2010 [4]3 years ago

8 0

Answer:

1,875

Step-by-step explanation:

75x25=1,875

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Suppose $1,500 is compounded weekly for 46 years. If no other deposits are made, what rate is needed for the balance to triple i

Crazy boy [7]

Answer:

The rate is needed is 1.037%.

Step-by-step explanation:

Given : Suppose $1,500 is compounded weekly for 46 years. If no other deposits are made.

To find : What rate is needed for the balance to triple in that time?

Solution :

Applying compound interest formula,

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

Where, P is the principal

A is the amount

The balance to triple in that time i.e. A=3P

r is the rate

t is the time t=46 years

Compounded weekly so n=52

Substitute the value in the formula,

$3P=P(1+\frac{r}{52})^{52\times 46}$

$3=(1+\frac{r}{52})^{2392}$

Taking log both side,

$\log 3=2392\ log(1+\frac{r}{52})$

$\frac{\log 3}{2392}=\ log(1+\frac{r}{52})$

$0.00019946=\ log(1+\frac{r}{52})$

Taking exponential both side,

$e^{0.00019946}=1+\frac{r}{52}$

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