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At 10 percent interest, how long does it take to quadruple your money?

horsena [70]

It takes about 14.55 years for quadruple your money

Solution:

Given that,

At 10 percent interest, how long does it take to quadruple your money

Rule of 144:

The Rule of 144 will tell you how long it will take an investment to quadruple

Here,

Rate of interest = 10 %

Therefore, number of years to quadruple your money is obtained by dividing 144 by 10

Rule of 144 Formula:

$N = \frac{144}{R}$

Where:

N = Number of many years times.

144 = Is the constant variable.

R = Rate of interest.

$\rightarrow N = \frac{144}{10} = 14.4$

Thus it takes about 14.4 years for quadruple your money.

Another method:

If initial amount is $ 1 and it if quadruples it should be $ 4

We have to find the number of years if rate of interest is 10 %

Let "n" be the number of years

Then we can say,

$Amount = Principal(1+\frac{R}{100})^n$

$4 = 1(1+\frac{10}{100})^n$

$4 = 1(1+0.1)^n\\\\4= 1(1.1)^n\\\\4 = 1.1^n\\\\We\ know\ that,\\\\(1.1)^{14.55} = 1.1^n\\\\We\ know\ that\\\\If\ a^m = a^n\ then\ m = n\\\\Therefore,\\\\14.55 = n\\\\n = 14.55$

Thus Option D 14.55 years is correct

7 0

3 years ago

The sum of three numbers is 244.84. One of the numbers is 24.6. The other two numbers are equal to each other. What is the value

mamaluj [8]

Answer:

The value of each of the other two numbers is 110.12

Step-by-step explanation:

244.84 - 24.6 = 220.24

220.24 divided by half is 110.12

The value of the other two numbers is 110.12

4 0

2 years ago

A line passes through point (-6,-5) and has a slope of -3/2 write in Ax+by=c

Evgesh-ka [11]

Answer:

-6x+-5y= -3/2

Step-by-step explanation:

Hope this helps

7 0

3 years ago

Aisha measures the length of a sheet of paper and finds that it is 29 cm long. The label on the package indicates that the paper

Masteriza [31]

Answer:

just do the step by step and you'll probably get it because it's quite simple but hard for me to explain so just read this!

Step-by-step explanation:

In making any measurement, the chances are that our results will not be absolutely accurate. We can often compare our results with some standard or accepted value to see how closely they agree. But how much error can be allowed before the result becomes meaningless?

As you may guess, the amount of error that is acceptable varies with the situation. Suppose you measure the distance on a map between your Scarsdale and Mamaroneck and you get a result of 5 miles. If the actual distance is 5 1/2 miles, the chances are this error will have no effect on the trip between the two towns. But if the same degree of error existed in the calculations used to send astronauts to the moon, those people would be in big trouble!

Percentage Error = measured value - accepted value x 100%

accepted value

Suppose, you measured the length of a table and obtained a measurement of 202 cm. A friend also measures the table and obtains a result of 198 cm. To calculate the percentage error in each of the measurements, you need to know the "correct' or “accepted value” of the length of the table. After consulting the manufacturer’s catalog, you find that the table's length is listed as 200 cm in length. This will be used as the accepted value in our calculation.

The calculations of percentage error for the two measurements are shown below. Both measurements show an error of 1%. Your friend has made a measurement which is on the low side of the accepted value and is therefore, negative. You, on the other hand, have made an error on the high side of the accepted value and it is positive.

I dont know the answer but I hope this helped!

(sorry for the inconvenience)

6 0

3 years ago

Find the area of a rectangle that is 12 cm long and 10 cm wide.

gregori [183]

Answer:

area is length * width

12* 10 = 120cm

the answer is 120cm

Step-by-step explanation:

6 0

3 years ago

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