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,
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.
The equation of a line that passes through (x1,y1) and has a slope of m is
y-y1=m(x-x1)
find slope
slope between (x1,y1) and (x2,y2) is
(y2-y1)/(x2-x1)
given
(-3,2) and (2,1)
slope=(1-2)/(2-(-3))=(-1)/(2+5)=-1/5
pikc a point
if we pick (-3,2)
(x1,y1)
x1=-3
y1=2
y-2=-1/5(x-(-3))
y-2=-1/5(x+3)
that is D
Answer:
You need more information. But typically multiplly by 100 so .1 would be 10 %
Step-by-step explanation:
Answer:
A
Step-by-step explanation:
1/2f
Answer:
6.68181818182
Step-by-step explanation: