John's effective annual rate is about
(1 +.0576/4)^4 -1 ≈ 5.8856%
According to the "rule of 72", John's money will have doubled in
72/5.8856 = 12.23 years
John's balance will be $4500 in 1989.
_____
Since you're only concerned with the year (not the month), you don't actually need to determine the effective annual rate. The given rate of 5.76% will tell you 72/5.76 = 12.5 years. The actual doubling time is closer to 12.12 years, so using the effective rate gives results that are closer, but "good enough" is good enough in this case.
Answer:
$6,250
Step-by-step explanation:
5% of 5000 = .05 x 5000 = 250 this finds the amount gained per year
250 x 5 = 1,250 this is the amount earned over 5 years
5000 + 1250 = 6,250 this is the total after 5 years.
Hope this helps!
Three fifths y plus left parenthesis negative six fifths y right parenthesis
3/5y + (−6/5y)= -18/5y = -18/5=y - 3 3/5
Answer:
the answer is B, aka 10
Step-by-step explanation:
my calculator
2 3 8 is equal to 2.375
Step-by-step explanation:
in fraction form
