The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Step-by-step explanation:
The given is,
Compounds money quarterly
Double your money in 10 years
Step:1
Formula to calculate future investment with compounded quarterly,
...............................(1)
Where, A - Future amount
P - Initial investment\
r - Rate of interest
n - No. of compounding in a year
t - No. of years
Step:2
Let, P = X
A = 2X ( Double your money )
From given, n - 4 ( for compounding quarterly )
t - 10 years
From equation (1)



Take root
root on both side,
![\sqrt[40]{2} = (1+\frac{r}{4} )](https://tex.z-dn.net/?f=%5Csqrt%5B40%5D%7B2%7D%20%3D%20%281%2B%5Cfrac%7Br%7D%7B4%7D%20%29)





r = 6.992 %
Result:
The interest rate is 6.992%, if a bank advertises that it compounds money quarterly and that it will take Double your money in 10 years.
Answer: In attached
Step-by-step explanation:
Use the given functions to set up and simplify
Attachment has your answer.
I’m not good at typing functions on this app so this image is all I could give.
Answer:
its (-1/2,-5/2),(2,5)
Step-by-step explanation:
Substitute 2x2−3 for y into y=3x−1then solve for x.
Answer:
your mom
Step-by-step explanation:
We know how we got 90, since a right angle is 90 degrees,
180 degrees are in a triangle.
180-90=90
Find the pair that equals 90 so you get 180 degrees!
If you have more questions don’t have hesitation to ask!
Or add all number to get 180 degrees!