How long does it take to double a $1,000 investment that pays 6.5% annual interest, compounded monthly?Which equation can you use to solve this problem?
To the nearest year, it will take about ___
years to double the original investment.
Answers
To the nearest year, it will take about 10.7 years to double the original investment.
How to solbve for the period it would take
In this case, the principal P is $1,000, the interest rate r is 6.5% or 0.065 (in decimal form), the number of times compounded per year n is 12 (compounded monthly), and we want to find the time t when the investment doubles, so A is $2,000.
ln(2) = 12t * ln(1 + 0.065/12)
t = ln(2) / (12 * ln(1 + 0.065/12))
t ≈ 10.7
Read more on compounded monthly here brainly.com/question/31242519
#SPJ2
Answer: edgen
B 2=(1+0.065/12)^12t
Step-by-step explanation:
Related Questions
Trina and her mom are planting 45 plants in their garden.if their garden is 9 square feet how many plants can they put in each square foot
Jason built a rectangular tool shed that is 8 meters wide and has an area of 96 square meters. What is the length of Jason’s tool shed?
Write an expression that can be used to check the quotient of 646 divided 3
The sum of a rational number and a rational number is rational. A.Always True B.Sometimes TrueC.Never True
Answers
answers:
1: D 2: C
please mark me brainliest
GIVING BRAINLIST HURRY UP!!!
Answers
Answer:
The answer is 91
Step-by-step explanation:
~Hoped this helped~
x 5
Answers
Answer:
A
Step-by-step explanation:
can i please get brainliest im trying to rank up
Answer:
A
Step-by-step explanation:
give the guy above me a brainly
and gibe me a lot of rate and like
Answers
Answer:
4 and -2
Step-by-step explanation:
Answer:
1/2
Step-by-step explanation:
the slope = rise /run
Look at the graph to find 2 points that are easy to read for example (0, -2) and (4, 0).
How did you got from (0, -2 ) to (4, 0) by rising 2 and run 4 so your slope is
m=2/4=1/2
Figure EFGHK as shown below is to be transformed to figure E'F'G'H'K' using the rule (x, y) (x+8, y + 5):
Answers
Answer:
H' (4, 8 )
Step-by-step explanation:
the transformation rule (x, y ) → (x + 8, y + 5 )
means add 8 to the original x- coordinate and add 5 to the original y- coordinate, then
H (- 4, 3 ) → H' (- 4 + 8, 3 + 5 ) → H' (4, 8 )
Answers
The number of bacteria that exist in the culture after 8 hours will be 1024.
What is an exponent?
Consider the function:
y = a (1 ± r) ˣ
Where x is the number of times this growth/decay occurs, a = initial amount, and r = fraction by which this growth/decay occurs.
If there is a plus sign, then there is exponential growth happening by r fraction or 100r %
If there is a minus sign, then there is exponential decay happening by r fraction or 100r %
A bacteria culture begins with 4 bacteria which double in size every hour.
Then the equation will be
y = 4 (2)ⁿ
Where n is the number of hours.
Then the number of the bacteria that exist in the culture after 8 hours will be
y = 4 (2)⁸
y = 4 x 256
y = 1024
More about the exponent link is given below.
#SPJ2
After 1 hour= 4 x 2= 8
2 hours= 8 x 2= 16
3 hours= 16 x 2= 32
4 hours= 32 x 2= 64
5 hours= 64 x 2=128
6 hours= 128 x 2=256
7 hours= 256 x 2= 512
8 hours= 512 x 2= 1024
Answer: 1024