Answer:
The doubling time of this investment would be 9.9 years.
Step-by-step explanation:
The appropriate equation for this compound interest is
A = Pe^(rt), where P is the principal, r is the interest rate as a decimal fraction, and t is the elapsed time in years.
If P doubles, then A = 2P
Thus, 2P = Pe^(0.07t)
Dividing both sides by P results in 2 = e^(0.07t)
Take the natural log of both sides: ln 2 = 0.07t.
Then t = elapsed time = ln 2
--------- = 0.69315/0.07 = 9.9
0.07
The doubling time of this investment would be 9.9 years.
Answer:
Option C will be the answer.
The amount spent on each tube is $18.5
The total amount spent to rent 15 tubes by the group is $277.50.
Since they did not specify in the question the types of tubes they rented, we cannot determine each types of tubes that the group rented but we can determine the amount spent on each tube provided that they are all the same types.
∴
if 15 tubes = $277.50
1 tube = $x
By cross multiplying:


Therefore, we can conclude that the amount spent on each tube is $18.5
Learn more about arithmetic operations here:
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