Find the percent increase. Round to the nearest percent

Determine how long it will take for a principal amount of $13,000 to double its initial value when deposited into an account pay

bezimeni [28]

Compound interest can be defined as the interest <em>on a deposited amount, an investment</em> that is <em>compounded based on its principal and interest rate.</em>

It will take about 3.239 years for the principal amount of $13,000 to double its initial value.

From the above question, we can deduce that we are to find the time "t"

The formula to find the time "t" in compound interest is given as:

t = ln(A/P) / r

where:

P = Principal = $13,000

R = Interest rate = 21.4%

A = Accumulated or final amount

From the question, the Amount "A" is said to be the double of the principla.

Hence,

A = $13,000 x 2

= $26,000

Step 1: First, convert R as a percent to r as a decimal

r = R/100

r = 21.4/100

r = 0.214 per year.

Step 2: Solve the equation for t

t = ln(A/P) / r

t = ln(26,000.00/13,000.00) / 0.214

t = 3.239 years

Therefore, it will take about 3.239 years for the principal amount of $13,000 to double its initial value.

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7 0

3 years ago

1. Slove the system of equations, first by graphing, and then algebraically. (8 points) y=x-2 and y=-2x+7

Anton [14]

The solution of the equation is $x=3$ and $y=1$

Explanation:

The equations are $y=x-2$ and $y=-2 x+7$

First we shall solve the equation graphically.

The image of the graph is attached below.

This contains the solution to the system of equations.

The equations $y=x-2$ and $y=-2 x+7$ are plotted on the graph.

The intersection of these two equations are the solutions of the system of equations.

Thus, the intersection of the two equations are $x=3$ and $y=1$

Now, we shall solve the equation algebraically.

Let us solve the equation using substitution method.

Let us substitute $y=x-2$ in $y=-2 x+7$ , we get,

$x-2=-2x+7$

Adding both sides by 2x, we have,

$3x-2=7$

Adding both sides by 2, we get,

$3x=9$

Dividing both sides by 3,

$x=3$

Thus, the value of x is 3.

Substituting $x=3$ in $y=x-2$ , we get,

$y=3-2\\y=1$

Thus, the value of y is 1.

Hence, The solution of the equation is $x=3$ and $y=1$

4 0

3 years ago

What time did they arrive at the airport?

Ainat [17]

Answer:

32

Step-by-step explanation:

7 0

3 years ago

The base area of a square-based prism is 25 ft squared. One of the lateral faces of the prism is 30 ft squared. What is the surf

telo118 [61]

Answer:

170 ft²

Step-by-step explanation:

Surface area = 4*lateral faces + 2*bases

A = 4*30 + 2*25 = 170 ft²

7 0

3 years ago

Write-2.16 as a fraction asap!!!!1m

Anarel [89]

Answer:

-2 wholes 4/25

Step-by-step explanation:

I used calculator. btw its -2 4/25

hope this helps! mark as brainliest!

8 0

3 years ago

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