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grigory [225]
2 years ago
5

How many years would it take for money to increase to 3 times the initial amount at an interest rate of 18% per year?

Business
1 answer:
arlik [135]2 years ago
3 0

Answer:

7 years (to the nearest year)

Explanation:

Given that;

A = amount

P= principal

t = time

r = rate

A =3P(given in the question)

Formula for compound interest;

A = P(1 + r)^t

Substituting values;

3P = P(1 + 18/100)^t

3P/P= (1.18)^t

3 = (1.18)^t

log 3 = t log 1.18

t = log 3/log 1.18

t = 0.4771/0.0719

t = 6.6 years

t = 7 years (to the nearest year)

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Answer:

threat of new entrants

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3 years ago
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wel

Answer:

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In competitive markets, a surplus or shortage will select one:
Andrej [43]

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Answer:

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<u>fixed expenses                                                                                      </u>

controllable        $130,000        $25,000        $40,000      <u>$75,000</u>

profit margin

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7 0
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