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.
D is the correct answer because it’s greater than 985, 405
Answer:
Z=BY+R
Step-by-step explanation:
B=z-r/y
separate Z by it's self. Z= B * Y
Z =BY+R
Simple easy stuff should have no problems. I would love some more math like this bring it. C:
Answer:
70 degrees
Step-by-step explanation:
Measure of arc ABC is 128 degrees, so measure of arc BC is 128-90 = 38 degrees.
Meausure of arc BCD is 102 + 38 = 140 degrees, so measure of angle A is 140/2 = 70 degrees