The option c is the answer because
2p=p (1.07)^x
2=1.07^x
Solve for x
X=log(2)÷log(1.07)
x=10 years the amount will be doubled after 10 years
But your option says the investment will (more) than double with (12) years
So it's correct

5 0

2 years ago

Find the balance in the account. $2,500 principal earning 4%, compounded quarterly, after 4 years

Helen [10]

$\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$2500\\ r=rate\to 4\%\to \frac{4}{100}\dotfill &0.04\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, thus four} \end{array}\dotfill &4\\ t=years\dotfill &4 \end{cases} \\\\\\ A=2500\left(1+\frac{0.04}{4}\right)^{4\cdot 4}\implies A=2500(1.01)^{16}\implies A\approx 2931.4466123$

3 0

3 years ago

1. 75,(9)09,931 rounded to the nearest hundred-thousand, 9 is the target, the one with the () on it. Aka the number place your r

Lina20 [59]

Answer:

75900000

Step-by-step explanation:

75,900,000 because it's less then 50

3 0

2 years ago