How long does it take to double $1000 at an annual interest rate of 6.35% compounded monthly?
1 answer:
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Answer:
2.20752 x
Step-by-step explanation:
The first thing you have to do is to look for the number of seconds in one year. You have to multiply 365 days by 86,400 seconds.
- 365 days refer to the total number of days per year
- 86,400 seconds refer to the number of seconds per day
Let's solve.
- 365 x 86,400 = 31,536,000 or 3.1536 x
<em>Therefore, one year has 3.1536 x </em><em> seconds.</em>
Next, you have to know the number of seconds in 10 billion years.
- (3.1536 x
) x (1.0 x
) = 3.1536 x
The last step is to multiply the number of seconds in 10 billion years to 7 million tons of mass per second.
- (3.1536 x
) x 7,000,000 = 2.20752 x
Answer:
- 6.2
Step-by-step explanation:
The product of - 2 (3.1) is - 6.2.
Brackets mean to multiply so we have to multiply the - 2 by 3.1 which gives a result of - 6.2.
