2.5 years required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 percent per year, compounded quarterly.
Step-by-step explanation:
The given is,
Initial investment - $5000
Future amount - $6000
Interest rate - 7.5% (compounded quarterly)
Step:1
Formula to calculate the Future amount with compound interest,
...................................(1)
Where, F - Future amount
P - Initial amount
r - Rate of interest
n - No. of compounding in a year
t - Time period
From given,
F = $6000
P = $5000
r = 7.5%
n = 4 (compounded quarterly)
Equation (1) becomes,



Take log on both sides,

Substitute log values,
0.07918 = 4(t) (0.0080676)
= (t) (0.0322705)
= 2.45
t ≅ 2.5 years
Result:
2.5 years required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 percent per year, compounded quarterly.
Answer:
A
Step-by-step explanation:
f(x) = 2x
f(-4) = 2(-4) = -8
Answer:
17 meters
Step-by-step explanation:
The perimeter is the addition of all sides. Since the perimeter is 68 meters and a square has 4 sides, we can divide 68 by 4 and we get 17.
Answer:
6 mm
Step-by-step explanation:
Use the Pythagorean Theorem to solve for the unknown leg

Since we need to solve for a, we will manipulate the equation in terms of b and c → 
Here, b = 7 mm and c =
mm
Plugging these numbers into our equation gives us
→
=
= 6 mm
Answer:
P(z>1.3) = 0.9032
Step-by-step explanation:
We are given:
Mean = 5000
Standard deviation = 1000
x = 6300
P(x>6300)=?
z-score =?
z-score = x- mean/standard deviation
z-score = 6300 - 5000/1000
z- score = 1300/1000
z-score = 1.3
So, P(x>6300) = P(z>1.3)
Looking at the z-probability distribution table and finding value:
P(z>1.3) = 0.9032
So, P(z>1.3) = 0.9032