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.
Answer:
all the time
Step-by-step explanation:
Step-by-step explanation:

You need to remember the properties of exponents: multiplication adds the exponents, division subtracts the exponents.
If you multiply two powers with the same base, the result will be the base to the sum of the powers.
If you divide two powers with the same base, the result will be the base to the difference of the powers.
In your case you will this:

That is:

Or:

Answer:
x =
Step-by-step explanation:
To solve for x, we need to isolate it [get it alone on one side]
We should start by simplifying (combining the like-terms of our equation):
5 + 5 = 5x + 5 - 2
10 = 5x + 3
- 3 - 3 (subtract 3 from both sides to isolate x)
7 = 5x
÷5 ÷5 (divide both sides by 5 to find "1"x)
So, x =
(x = 7/5)
hope this helps!!
Answer:
i think its b
Step-by-step explanation: