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Step2247 [10]
2 years ago
12

if tzs 2,500,000 is invested at an interest rate of 9.5%,compounded twice monthly, how long will it take for the investment to r

each tzs 7,500,000?​
Mathematics
1 answer:
Oksanka [162]2 years ago
8 0

9514 1404 393

Answer:

  11 years, 7 months

Step-by-step explanation:

When the investment reaches its desired value, it will be 3 times the original amount. So, we are looking for the number of half-month periods (n) of compounding such that ...

  (1 +0.095/24)^n = 3

Taking logarithms, we have ...

  n·log(1.003958333...) = log(3)

  n = log(3)/log(1.009358333...) ≈ 278.09

This is 278.09/24 ≈ 11.59 years.

It will take about 11 years and 7 months for the investment to reach the desired value.

__

<em>Additional comment</em>

The amount will be about tzs 2,758 short after 11 years 7 months. It will exceed the desired amount after 2 more days' interest is added.

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15. [4] insufficient information. only given SA
16. There are 3 right triangles, 3 Pythagorean theorem equations 
x²+b²= 16²
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combine equations using substitution to get in terms of only x
substitute b² for (a² +x²) in first equation
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substitute a² for (x² - 12²)
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2x² - 144 + 16 = 256
2x² = 256 + 144 - 16
2x² = 384
x² = 384/2
x² = 192
x = 13.85

rounded to nearest tenth, x = 13.9




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