2.5 years required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 percent per year, compounded quarterly.
Step-by-step explanation:
The given is,
Initial investment - $5000
Future amount - $6000
Interest rate - 7.5% (compounded quarterly)
Step:1
Formula to calculate the Future amount with compound interest,
...................................(1)
Where, F - Future amount
P - Initial amount
r - Rate of interest
n - No. of compounding in a year
t - Time period
From given,
F = $6000
P = $5000
r = 7.5%
n = 4 (compounded quarterly)
Equation (1) becomes,



Take log on both sides,

Substitute log values,
0.07918 = 4(t) (0.0080676)
= (t) (0.0322705)
= 2.45
t ≅ 2.5 years
Result:
2.5 years required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 percent per year, compounded quarterly.
Answer:
thank you for free point and have a nice day and
Simplify by dividing the two by 14
Well,
The distance from the earth to the moon, FYI, is over 200,000 miles. That is a LONG distance. We are trying to find a reasonable unit of measurement.
What do we mean by "reasonable?" We mean that that unit should be able to express the distance as a number that is not huge or tiny. In other words, we want it to be as close as possible to 1.
mm, or millimeters, is a tiny unit. It is not reasonable.
cm, or centimeters, is also a tiny unit. It also is not reasonable.
m, or meters, is also a relatively small unit. It also is not reasonable.
km, or kilometers, is the largest of the four. In km, the distance from the earth to the moon is about 363,000 km. That's not too bad.
However, if these weren't the only options, I would choose Mm, or megameters, which would put the distance at 363 Mm.
The correct option is D.