All categories

3 years ago

Approximately how long will it take for $700 to double if it is invested at 4% annual

Mathematics

1 answer:

charle [14.2K]3 years ago

4 0

Answer: 17 years

Step-by-step explanation:

Exponential equation for compund amount( compunded continuously):

$A=Pe^{rt}$ , where P= Principal value , r= rate of interest , t= time.

Given: A= 2P

r =4%= 0.04

To find : t

Substitute all values in the formula , we get

$2P=Pe^{0.04t}\\\\\Rightarrow\ 2=e^{0.04t}$

Taking natural log on both sides

$\ln2=\ln e^{0.04t }\\\\\Rightarrow\ 0.693147=0.04t\\\\\Rightarrow\ t=\dfrac{ 0.693147}{0.04}\\\\\Rightarrow\ t=17.3286\approx17$

hence, it will take 17 years (approx).

You might be interested in

Show work

adelina 88 [10]

Answer:

n = 5
m = 12
m= -14
y =30

Step-by-step explanation:

$n -8 =-3\\\\Collect\:like\:terms\\n = -3+8\\\\Simplify ; -3+8 = 5\\\\n =5$

$-2m=-24\\\\Divide\: both \:sides\:of\:the\:equation\:by\:-2\\\\\frac{-2m}{-2} = \frac{-24}{-2} \\\\Simplify ; -2m/-2 = m , -24/-2 = 12\\\\m =12$

$\frac{m}{2}=-7\\\\Cross\:Multiply\\\\m\times 1 = 2\times -7\\\\m = -14$

$\frac{2}{3}y=20\\ \\\frac{2}{3} y = \frac{20}{1} \\\\Cross\:Multiply\\\\2y\times 1 = 3\times 20\\\\2y = 20\\\\\mathrm{Divide\:both\:sides\:by\:}2\\\frac{2y}{2}=\frac{60}{2}\\\\Simplify\\y = 30$

3 0

3 years ago

Ricardo comes up with his own casino game.You draw a card from a standard deck.If you pick a heart, you win $10.If you pick a fa

avanturin [10]

Answer:

Total number of cards in a standard deck of card=52

As deck of card contain 13 club +13 heart +13 spade+13 Diamond.

P(Diamond)=13/52 =1/4

If the card is not diamond then

P(not diamond)=39/52=3/4

Since after drawing card is not replaced

P ( second Diamond)=12/51

now if second card is not Diamond.then

P(non diamond)=39/51

Chances of your winning i.e both cards are diamonds=1/4×12/51=1/17=0.0588..(approx)

chances of your friend winning=1/4×39/51=[1/4]×[13/17]=13/68=0.1911..(approx)

Your friend has got better chance to win because there are more chances that both the cards are not Diamonds.

5 0

3 years ago

Help please, will mark brainliest

mario62 [17]

Answer:

Step-by-step explanation:

LET ORANGES=X

PEARS ARE 3 TIMES =3X

LET CHILDREN=Y

IF WE GIVE 5 ORANGES PER CHILD WE NEED 5Y ORANGES.SO THIS =X

X=5Y........................I

IF WE GIVE 8 PEARS PER CHILD WE NEED 8Y PERARS...THERE ARE STILL 21 PEARS LEFT OUT AFTER THIS THAT IS

8Y+21=3X....................II

SUBSTITUTING FOR X FROM EQN.I..

8Y+21=3*5Y

15Y-8Y=21

7Y=21

Y=3

X==5Y=5*3=15..

SO CHILDREN =3

ORANGES=15

PEARS=3*15=45

THANKYOU AND PLEASE AMRK IT BRAINLIEST

8 0

3 years ago

a person who wants to get in shape goes to a local gym that advertises 45 training sessions for $712. find the cost of 145 train

HACTEHA [7]

Answer:

2294.2222

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

Sum of two numbers is -17. Their difference is 41. Find the numbers

wel

Answer:

$Suppose~the~two~numbers~are~x~and~y.\\From~the~first~condition,\\x+y=-17...........(1)\\From~the~second~condition,\\x-y=41.............(2)\\Adding~eq^n(1)~and~eq^n(2),~we~get,\\x+y+x-y=-17+41\\or, 2x = 24\\or, x=12\\Substituting~x=12~in~eq^n(2),\\y = -17-x = -17-12 = -29$

$So,~the~two~numbers~are~12~and~-29.$

3 0

3 years ago