All categories

2 years ago

How long will it take Birr 500

Mathematics

1 answer:

notka56 [123]2 years ago

4 0

It would take 25 years for Birr 500 to quadruple if invested at a rate of 12% simple interest per annum.

<h3 /><h3>Simple interest formula</h3>

Using the simple interest formula A = P(1 + rt) where

P = princial amount = Birr 500,
A = final amount = 4P (since it is quadrupled),
r = rate = 12% = 12/100 = 0.12 and
t = time to quadruple

<h3 /><h3>Finding the time it takes to quadruple </h3>

Since we require t, making t subject of the formula, we have

t = [(A/P) - 1]/r

Substituting the values of the variables into the equation, we have

t = [(A/P) - 1]/r

t = [(4P/P) - 1]/0.12

t = [4 - 1]/0.12

t = 3/0.12

t = 25 years

So, it would take 25 years for Birr 500 to quadruple if invested at a rate of 12% simple interest per annum.

Learn more about simple interest here:

brainly.com/question/25793394

You might be interested in

You saved $20,000.00 and want to diversify your monies. You invest 45% in a Treasury bond for 3 years at 4.35% APR compounded an

Maru [420]

Compound Interest

A total of $20,000 is invested in different assets.

45% is invested in a Treasury bond for 3 years at 4.35 APR compounded annually.

For this investment, the principal is P = 0.45*$20,000 = $9,000.

The compounding period is yearly, thus the interest rate is:

i = 4.35 / 100 = 0.0435

The duration (in periods) is n = 3

Calculate the final value with the formula:

$M=P_{}(1+i)^n$

Substituting:

$\begin{gathered} M=\$9,000_{}(1+0.0435)^3 \\ M=\$9,000\cdot1.136259062875 \\ M=\$10,226.33 \end{gathered}$

The second investment is a CD at 3.75% APR for 3 years compounded annually. The parameters for the calculations are as follows:

P = 15% of $20,000 = $3,000

i = 3.75 / 100 = 0.0375

n = 3

Calculating:

$\begin{gathered} M=\$3,000_{}(1+0.0375)^3 \\ M=\$3,000\cdot1.116771484375 \\ M=\$3,350.31 \end{gathered}$

The third investment is in a stock plan. The initial value of the investment is

P = 20% of $20,000 = $4,000

By the end of the first year, the stock plan increased by 8%, thus its value is:

M1 = $4000 * 1.2 = $4,800

By the end of the second year, the stock plan decreased by 4$, thus the value is:

M2 = $4,800 * 0.96 = $4,608

Finally, the stock plan increases by 6%, resulting in a final balance of:

M3 = $4,608 * 1.06 = $4,884.48

Finally, the last investment is in a savings account at 2.90% APR compounded annually for 3 years (not mentioned, but assumed).

P = $20,000 - $9,000- $3,000 - $4,000 = $4,000

i = 2.90 / 100 = 0.029

n = 3

Calculating:

$\begin{gathered} M=\$4,000_{}(1+0.029)^3 \\ M=\$4,000\cdot1.089547389 \\ M=\$4,358.19 \end{gathered}$

To summarize, the final balances for each type of investment at the end of the third year are:

Investment 1; $10,226.33

Investment 2: $3,350.31

Investment 3: $4,884.48

Investment 4: $4,358.19

Total balance: $22,819.32

3 0

1 year ago

A statistics instructor believes that fewer than 20% of Evergreen Valley College (EVC) students attended the opening night midni

Alex17521 [72]

Answer: It is believed that exactly 20% of Evergreen Valley college students attended the opening night midnight showing of the latest harry potter movie.

Step-by-step explanation:

Since we have given that

n = 84

x = 11

So, $\hat{p}=\dfrac{x}{n}=\dfrac{11}{84}=0.13$

p = 0.20

So, hypothesis:

$H_0:p=\hat{p}\\\\H_a:\hat{p}$

so, test statistic value would be

$z=\dfrac{\hat{p}-p}{\sqrt{\dfrac{p(1-p)}{n}}}\\\\z=\dfrac{0.13-0.20}{\sqrt{\dfrac{0.2\times 0.8}{84}}}\\\\z=-1.604$

At 1% level of significance, critical value would be

z= 2.58

Since 2.58>-1.604

So, We will accept the null hypothesis.

Hence, It is believed that exactly 20% of Evergreen Valley college students attended the opening night midnight showing of the latest harry potter movie.

4 0

2 years ago

Read 2 more answers

Before a bag of flour can be sold, it must be 40 kilograms but can be within 0.5

Serjik [45]

Answer:

The minimum acceptable weight of the flour bag is 39.5 kg,

and its maximum acceptable weight is 40.5 kg

Step-by-step explanation:

Notice that the selling weight of the bag to be sold (x) needs to differ from 40 kg at most 0.5 kg. Therefore, we can write the following inequality:

$|x-40|\leq 0.5$

The inequality can be solve once we remove the absolute value symbol, and solve for the unknown "x". Recall that in order to solve it, we need to consider the two possible cases:

a) that the expression within the absolute value symbol is larger than or equal to zero, and b) that the expression is less than zero.

a) If $x-40\geq 0$ then its absolute value is equal to itself (x-40), and when we remove the absolute value symbols, we get:

$x-40\leq 0.5\\x\leq 0.5+40\\x\leq 40.5\,\,kg$

which means that the weigh "x" of the flour bag should be smaller or equal than 40.5 kg

b) If $x-40$ , then the absolute value of this is its opposite : -x+40, and the inequality becomes:

$-x+40\leq 0.5\\40\leq 0.5+x\\40-0.5\leq x\\39.5\leq x$

which means that the weight of the flour bag must be larger than or equal to 39.5 kg

So, the minimum acceptable weight of the flour bag is 39.5 kg, and the maximum acceptable weight is 40.5 kg

6 0

3 years ago

You need to wrap a present that you will put inside a cylindrical container. You’ll need to know how much will fit in the conta

nirvana33 [79]

Answer:

149.28 sq. inches

137.5 cubic inches.

Step-by-step explanation:

The cylindrical container has length or height (h) 7 inches and has a diameter of 5 inches i.e. radius (r) 2.5 inches.

Now, total surface area of the container = $2\pi r^{2} + 2\pi rh$

= $\frac{2 \times 22 \times (2.5)^{2} }{7} + \frac{2 \times 22 \times 2.5 \times 7}{7}$

= 39.28 + 110

= 149.28 sq. inches (Answer)

Again the volume of the container will be $\pi r^{2}h$

= $\frac{22 \times (2.5)^{2} \times 7}{7}$

= 137.5 cubic inches. (Answer)

6 0

3 years ago

The price of a cup of coffee was 2:40 yesterday today it Rose 265 find the<br> percentage increase

Anni [7]

N.B. I believe your question is saying that the price of a cup of coffee was $2.40 yesterday, and it rose to $2.65 today. Therefore, I will solve with these prices.

The percent increase is 10.41666666% (The 6 is repeating.).

First, you find the difference, or increase, between the two prices.

New price - Old price = Increase

$2.65 - $2.40 = $0.25

The difference between the two prices is $0.25. To find the percent increase, you want to divide the original price ($2.40) from the increase ($0.25) and multiply by 100.

Increase ÷ Original Price × 100 = % increase

0.25 ÷ 2.40 × 100 = 10.41666666%

The percent increase is 10.41666666% (The 6 is repeating.).

6 0

3 years ago