If you deposit $350 in an account that compounds interest continuously at 6.3%, how long will ittake to double your money?

Answers

Answer 1

Answer:

11 years

Step-by-step explanation:

Double of the amount deposited = $350 × 2 = $700

First, convert R as a percent to r as a decimal

r = R/100

R = 6.3%

Hence,

r = 6.3/100

r = 0.063 per year,

Then, solve the equation for t = time, the formula is given as:

t = ln(A/P) / r

A = Doubled amount = $700

P = Principal = Initial amount = $350

t = ln(700.00/350.00) / 0.063

t = 11.002 years

Approximately , t = 11 years

Therefore, it will take 11 years for your money to double.


Related Questions

The price of a car is currently 120,000$. The price of the car decreases annually by 2.5%. What is the price of the car after 8 years?

Answers

Answer:

97,988.216

Step-by-step explanation:

So, we can find this by using the following formula:

First value(change)^time

We know that the orginal, or first value, is 120,000.

We know that the time interval for this is 8 years, which is our time value.

We know that the decrease in this price is 2.5%. However, this is not our change.

Our change is the 97.5% price that is left.

This makes sense, because you would get a super small price when you use 2.5% as change.

So to sum up what we have done so far:

First value - 120,000

Change - 100%-2.5% = 97.5%. In decimal form: 0.975

Time - 8

So lets plug these into:

[tex]First_.value(change)^t^i^m^e[/tex]

=

[tex]120,000(0.975)^8[/tex]

And remember your order of operations here.

We dont have any equations or expressions inside the parethese, so we can move on to what comes next - exponents.

We have the exponent 8, which is attached to the 0.975.

So in your calculator, take 0.975, and put it to the 8th power.

You should get 0.816651803662261962890625

Lets leave it like this, becuase 120,000 is a very large value, and rounding what you multiply could change what you get in the end.

Now  our equation looks like:

120,000(0.816651803662261962890625)

We have done parethese, exponents - now we have multiplication and division.

We do indeed have this, since 120,000(0.816651803662261962890625) could also be written as:

[tex]120,000*0.816651803662261962890625[/tex]

Now multiplying this you should get:

97,998.216439471435546875

This is where you can round your answer.

I do not know what exactly they want you to round to, so its safe to just round your answer to the hundreths place:

97,998.22

So this is the new price of the car!

Hope this helps!

oh I did a mistake earlier , pardon ^^"

Current price (Pₒ) = 120, 000 $Rate of Depreciation (R) = 2. 5% Total Time = 8 years

Let price after 8 years be P.

Using the compound interest formula of shrinking principal :-

P = Pₒ( 1 - R/ 100) ᵀ

P = 120, 000 ( 1 - 2.5/ 100)ᵀ

P = 120, 000 { (100 - 2.5)/ 100}ᵀ

P = 120, 000{ 97. 5/ 100 }ᵀ

P = 120, 000 {0. 975 } ⁸

P = 120, 000 { 0. 8166}

P = 97,998.216 $

Since, P is is price after 8 years

Answer:-

The price of the car after 8 years will be 97, 998. 216 $

Given the function f(x) = 2(3)x, Section A is from x = 0 to x = 1 and Section B is from x = 2 to x = 3.

Part A: Find the average rate of change of each section.

Part B: How many times greater is the average rate of change of Section B than Section A? Explain why one rate of change is greater than the other.

Please explain in detail, I am confused

Answers

Answer:

read the comments i cant help you yet but if you read the comments and do what they say then i can help you

Step-by-step explanation:

Find the breadth of a rectangular park whose area is 54.6 sq m and 15.6 m long​

Answers

Answer:

breadth = 3.5 m

Step-by-step explanation:

length = 15.6 m

Area of rectangle = 54.6 sqm

breadth = [tex]\frac{Area}{length}[/tex]

             [tex]= \frac{54.6}{15.6}\\\\= \frac{54.6*10}{15.6*10}\\\\=\frac{546}{156}\\\\= 3.5[/tex]

Fill in all of the missing measure in the special right triangles shown below

Answers

Answer:

a=14

b=9.9

Step-by-step explanation:

for a.....

sin 45 = opposite/hypotenuse

sin 45 = (7√2)/a

make a the subject of the formula....

a = (7√2)/sin 45

a = 14

for b.....

tan 45 = opposite/hypotenuse

tan 45 = (7√2)/b

make b the subject of the formula...

b = (7√2)/tan 45

b = 9.9

A pair of sandals cost 29 Sarah has one $20 bill , one $ 5 bill, and three $ 1 bills. How much more money does she need to buy the sandals ?

Answers

Answer:

sarah needs $3 more to buy the sandals

Step-by-step explanation:

Tim has 5 yellow and 10 blue marbles in a bag. What is
the probability of choosing a yellow marble from the
bag?

Answers

Answer:

1/2 chance

Step-by-step explanation:

5 and 10 can be divided down to 1/2

17 points Please help me with the answer and understanding

•Please actually help me out I want to better understand this

•trolls will be reported

Answers

Because the graph is starting high and going down, your answer is c- exponential decay

Answer:

This is exponential decay.

Step-by-step explanation:

Lets break down the answers:

A: Linear Growth. Well, we can eliminate this because the line is going down, its decay. Also, linear means line, a straight line.

B: Exponential Growth. This might work, but then again, it says *growth* not decay. Exponential is correct because as the values get bigger and bigger, the line curves.

C: Exponential Decay. Yes! This is exactly what we need. Exponential because of the curve... and of the decay.

D: Linear Decay. No, linear, again, is for lines. But now, we have already eliminated it because it says linear.

4) Determine the solution. Show your work.
17 + x2 = 42

Answers

Answer:    x = 5 or x = -5

================================================

Work Shown:

17 + x^2 = 42

x^2 = 42-17

x^2 = 25

x = sqrt(25)  or  x = -sqrt(25)

x = 5 or x = -5

I need help can anyone help me

Answers

Answer:

480 in^3

Step-by-step explanation:

If I'm wrong please correct me. I used the formula-lwh for each of the figures and then added them to find the sum.

Larger figure: 8 times 10 times 5

80 times 5=400

Smaller figure: 5 times 4 times 4

20 times 4=80

400 plus 80 equals 480 in^3

Hope I helped :)

a rectangle has the height of n^3 + 4n^2 and the width of n^3 + 5n^2

Answers

Answer:

2^3

Step-by-step explanation:

Can someone help me on number 5!!!

Answers

f(x).g(x)

(2x-1).(3)

answer: 6x-3

Help this is confusing

Answers

what is confusing???

What is the inverse function of f(x) = x/x-2

Answers

F-1(x)=2x/x-1
Is the correct answer

The Answer is A because it's Marie and I have been working with the other kids Jimmie I know I did it

Moesha cuts a spherical orange in half along a great circle. The radius of the orange is
2 inches. Find the approximate total volume of the orange to the nearest tenth of a cubic inch

Answers

The nearest tenth, the total volume of the orange is approximately 33.5 cubic inches.

To find the volume of a sphere, we use the formula:

[tex]Volume = (4/3) \times \pi \times radius^3[/tex]

Given that the radius of the orange is 2 inches, we can substitute this value into the formula:

[tex]Volume = (4/3) \times 3.14 \times 2^3[/tex]

Simplifying this calculation:

[tex]Volume = (4/3) \times 3.14 \times 8[/tex]

Volume = 33.49333333..

Note: To calculate the volume of a three-dimensional object, you need to know the appropriate formula based on the shape of the object.

Here are the formulas for calculating the volume of some common three-dimensional shapes:

Sphere: Volume[tex]= (4/3) \times \pi \times radius^3[/tex].

For similar question on sphere.

https://brainly.com/question/30722062

#SPJ11

Jasmine bought a new IPhone for $1000. The value of the phone depreciates 9% each year. What will the phone be worth after 4 years?​

Answers

The phone will be worth 685.74$

cotA + tanA= secAcosecA

Answers

Step-by-step explanation:

cotA + tanA

= cosA / sinA+ sinA/ cosA

= cos2A + sin2A / sinA* cosA

= 1 / sinA* cosA

=1/ sinA * 1/ cosA

= cosecA *secA

=secAcosecA

[tex]\frac{cos^2A + sin^2A}{sinAcosA}[/tex]Answer:

Step-by-step explanation:

cotA + tanA = secAcosecA

LHS=cotA + tanA

=[tex]\frac{cosA}{sinA}[/tex] + [tex]\frac{sinA}{cosA}[/tex]

take lcm of the denominator

=[tex]\frac{cosA*cosA + sinA*sinA}{sinAcosA}[/tex](COS^2A + sin^2A =1)

=[tex]\frac{1}{sinAcosA}[/tex]

=1/sinA * 1/cosA

=cosecA*secA

=secAcosecA

therefore LHS=RHS

hence proved.

1. Which 3 numbers have the same answer whether they’re added or multiplied together?
^Brainliest anyone^

Answers

Answer:

1, 2, 3

Step-by-step explanation:

1 + 2 + 3 = 6

1 * 2 * 3 = 6

What is a carbon footprint? What are some actions you can take to reduce your carbon footprint?

Answers

The dictionary definition of a carbon footprint is “the amount of carbon dioxide released into the atmosphere as a result of the activities of a particular individual, organisation or community.” Some things you can do to reduce your carbon footprint is walk, use less plastic, and turn off lights/electric appliances when not in use.

Gerry worked 314 hours on Thursday, 425 hours on Friday, and 612 hours on Saturday. How many hours did he work in all during the 3 days? Will give brainliest.

Answers

Answer:

1351 hours....that question doesn't make sense though because you can only work 24 hours every day.

Step-by-step explanation:

Answer:

1351 hours

Step-by-step explanation:

You add the time of all the dates up

P(x)=1−2x2+3x+2x5 what type of polynomial is this?

Answers

There is only one x with no powers
P(x) = 3x + 7 a linear function

If a letter was chosen at random from the word SPORTSMANSHIP, which of the following is closest to the probability that it would be a vowel?

Answers

There are 3 vowels out of 13 letters
P(vowel) = 3/13

What is the length of the apothem if each side of the hexagon is 4 in long? I will reward brainliest to best answer :))))

Answers

Is answer C trust the process

please help find x!! asap

Answers

Answer:

x = 60

Step-by-step explanation:

The angle 30 is on the same vertical line as the angle that is adjacent to the missing angle x. they form 90 degrees.

need help quickkkk!!

Answers

Answer:

1 + 1 = 1 is the correct answer ok

Answer:

1+1 is 2 it is wrong here in explanation it is good way to solve

Step-by-step explanation:

take 1 finger and 1 more finger how much is it 2 ! ok so bye do good work !!!

Bharat has two identical ink pens with full ink. He used 3/4th of the ink from the first pen and 2/3rd of the ink from the second pen. What is the fraction of the ink remaining in the two pens together?

Answers

Answer:

0.58333333333 Or 0.58333333333/100000000000

Step-by-step explanation:

Mr. Barnes painted a mural on the office wall.
The rectangular mural is 36 inches long and 24
inches wide. What is the area of the mural?

Answers

Answer:864

Step-by-step explanation:

36*24=864

plss Pa answer po!!!!!!!!!!!!!​

Answers

Equation 1: 12-x=5 (Answer is 7)

Equation 2: 60-x=25 (Answer is 35)

Answer:

ronalyn has 7 oranges

7 + 5 = 12

aurthur has Php 35.00

25.00 + 35.00 = 60.00

hope it helps u..

Given this number line, ab=

Answers

Answer:

3

Step-by-step explanation:

7 -4 = 3

A soccer ball has an original price of $40. But, the soccer ball is on sale and is now 30% off. How much money will you save?

Answers

Final price: $29.68

Savings: $12.72

Answer:

We would have saved $12.

Step-by-step explanation:

First off, we know that the original price is $40.

Since the ball is 30% off, we'll multiply $40 by 70% to find the price it's sold by after the discount. 70% in decimal form is 0.70, so we would multiply 40(0.70)

40(0.70) = 28

This means that after a 30% discount, the price of the soccer ball is $28.

To find how much we saved, we would subtract $28 from $40.

40-28 = $12

$12 is the amount of money you saved.

SUPER URGENT: Find secθ.

Answers

Answer:

B

Step-by-step explanation:

√((-20)²+21²)=√(400+441)=√841=29

cos θ=-20/29

sec θ=-29/20