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.
Answer:
(2x3 − 3x − 10) ÷ (x − 2) = ( x-2)
Step-by-step explanation:
There is nothing to help with...
I would say that statistics is a mathematical subject that allows you to explain scientific data. In a similar fashion, you could use mathematics to explain the various idea in physics as you can use statistics to interpret the results of experiments and the data collected.
Hope that helped!
Answer:
DRACO MALFOY FOR SURE
Step-by-step explanation: