Question 6 of 9 Last week, Hayden rode his bike 5 times. Each time, he biked a 3-mile path, a 2-mile path, and a 2 1 4 2 1 4 -mi
1 answer:
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Answer:
It will take an interest rate of 8.1% to get 150% of the initial investment in just 5 years.
Step-by-step explanation:
Use the formula for continuous compounding
where r stands for the (annual) interest rate, t for time in years, P for the initial principal (investment) and X is the amount after t years.
(this formula can be beautifully derived from just basic considerations, btw)
We are given t=5, and percent increase on the initial P, so we can solve for r
It will take an interest rate of 8.1% to get 150% of the initial investment in just 5 years.
Answer:
64x³+4
-------------
2x-1
Step-by-step explanation:
I hope this helps. :)
