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Ipatiy [6.2K]
2 years ago
13

How long will it take $5,000 to double in an account that pays 1.6% simple interest?

Mathematics
1 answer:
forsale [732]2 years ago
4 0

Answer:

43.667 years

Step-by-step explanation:

Simple Interest Rate Formula: A = P(1 + r)ⁿ

Step 1: Define variables

A = 10,000

P = 5,000

r = 0.016

n = unknown

Step 2: Substitute variables

10,000 = 5,000(1 + 0.016)ⁿ

Step 3: Solve for <em>n</em> time

2 = (1.016)ⁿ

\log_{1.016}2

43.667 years

You might be interested in
How many more barrels of gasoline then diesel were produced last year gasoline 34% diesel 29% total crude oil -60 million barrel
MArishka [77]

Answer: 3 million barrels


Step-by-step explanation:

Given :- Total crude oil= 60 million barrels

Quantity of gasoline = 34% of total crude oil

=0.34\times60\text{ million barrels}\\=20.4\text{ million barrels}

Quantity of diesel = 29% of total crude oil

=0.29\times60\text{ million barrels}\\=17.4\text{ million barrels}

Clearly, Quantity of gasoline is more than Quantity of diesel

difference = Quantity of gasoline-Quantity of diesel

20.4\text{ million barrels}-17.4\text{ million barrels}\\=3\text{ million barrels}

Therefore, The production of gasoline is 3 million barrels more than diesel last year.



3 0
2 years ago
Read 2 more answers
(Ross 5.15) If X is a normal random variable with parameters µ " 10 and σ 2 " 36, compute (a) PpX ą 5q (b) Pp4 ă X ă 16q (c) PpX
pochemuha

Answer:

(a) 0.7967

(b) 0.6826

(c) 0.3707

(d) 0.9525

(e) 0.1587

Step-by-step explanation:

The random variable <em>X</em> follows a Normal distribution with mean <em>μ</em> = 10 and  variance <em>σ</em>² = 36.

(a)

Compute the value of P (X > 5) as follows:

P(X>5)=P(\frac{x-\mu}{\sigma}>\frac{5-10}{\sqrt{36}})\\=P(Z>-0.833)\\=P(Z

Thus, the value of P (X > 5) is 0.7967.

(b)

Compute the value of P (4 < X < 16) as follows:

P(4

Thus, the value of P (4 < X < 16) is 0.6826.

(c)

Compute the value of P (X < 8) as follows:

P(X

Thus, the value of P (X < 8) is 0.3707.

(d)

Compute the value of P (X < 20) as follows:

P(X

Thus, the value of P (X < 20) is 0.9525.

(e)

Compute the value of P (X > 16) as follows:

P(X>16)=P(\frac{x-\mu}{\sigma}>\frac{16-10}{\sqrt{36}})\\=P(Z>1)\\=1-P(Z

Thus, the value of P (X > 16) is 0.1587.

**Use a <em>z</em>-table for the probabilities.

8 0
2 years ago
Given the sequence 5,1,3 which term of sequence is -75<br>​
dimaraw [331]
Probably maybeeeeeeee
3 0
2 years ago
In a certain region, the number of highway accidents increased by 20% over the four years period. How many accidents were there
erma4kov [3.2K]

Equation:

a  =    5120  

r     =     1  +    .2     =     1 . 2

f (n )   =     5120 *  1 . 2^n - 1

N    =          4      years


f ( 4 )  5120 *  1 . 2^4 - 1

5120 *  1 . 2^3

We want to know, The number of Highway Accidents in Four Years.

Answer:    8,847 Highway Accidents total:






Hope that helps!!!!!!!!!!!                                                            : )


7 0
2 years ago
You sell sporting goods. Your wages depend on the value of your sales. One week you sold $3,500 in sporting goods, earning $950.
Semmy [17]

Answer:

y = 0.2x + 250

Step-by-step explanation:

let the sales be x and y be earnings

thus,

given

x₁ = $3,500 ; y₁ = $950

and,

x₂ = $2,800 ; y₂ = $810

Now,

the standard line equation is given as:

y = mx + c

here,

m is the slope

c is the constant

also,

m = \frac{y_2-y_1}{x_2-x_1}

or

m = \frac{810-950}{\textup{2,800-3,500}}

or

m = 0.2

substituting the value of 'm' in the equation, we get

y = 0.2x + c

now,

substituting the x₁ = $3,500 and y₁ = $950 in the above equation, we get

$950 = 0.2 × $3,500 + c

or

$950 = $700 + c

or

c = $250

hence,

The equation comes out as:

y = 0.2x + 250

7 0
2 years ago
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