Answer:
It will double in the year 2063
Step-by-step explanation:
Let the amount deposited be $x, when it doubles, the amount becomes $2x
we can use the compound interest formula to know when this will happen
The compound interest formula is as follows;
A = P(1+r/n)^nt
In this question,
A is the amount which is 2 times the principal and this is $2x
P is called the principal and it is the amount deposited which is $x
r is the interest rate which is 3.2% = 3.2/100 = 0.032
n is the number of times compounding takes place per year which is quarterly which equals to 4
t is the number of years which we want to calculate.
Substituting all these into the equation, we have;
2x = x(1+0.032/4)^4t
divide through by x
2 = (1+ 0.008)^4t
2 = (1.008)^4t
we use logarithm here
Take log of both sides
log 2 = log (1.008)^2t
log 2 = 2t log 1.008
2t = log 2/log 1.008
2t = 86.98
t = 86.98/2
t =43.49 which is 43 years approximately
Thus the year the money will double will be 2020 + 43 years = 2063
Answer:
Step-by-step explanation:
y - y1 = m(x - x1)
y - 5 = -9/2*(x - 4)
y -5 = -9/2x + 9*4/2
y - 5 = -9x/2 +9*2
y-5=-9x/2 + 18
y= -9x/2 + 18 +5
y= -9x/2 + 23 {y =mx+c}
Answer:
no solution
Step-by-step explanation:
Suppose the system equations are:
y = (-1/4)x + 2 (1)
3y = (-3/4)x – 6 (2)
If we multiply equation (1) by 3:
3y = (-3/4)x + 6 (1)
3y = (-3/4)x – 6 (2)
then subtract it from equation (2):
0y = 0x – 12
0 = -12
This is not possible, therefore, the system equation has no solution
Answer:
I got 2,717.45
Step-by-step explanation:
I did 2,363 × 15% = 354.45
then 2,363 + 354.45 = 2,717.45
Answer:
The circumference is 9 or approximately 28.26 inches.
Step-by-step explanation:
To calculate the circumference of a circle, multiply the diameter of the circle with π (pi). The circumference can also be calculated by multiplying 2×radius with pi (π=3.14).
