The "rule of 72" says that the doubling time in years is approximately 72 divided by the interest rate in percent. To make the money grow by a factor of 4 requires that it double twice, so will take twice as long as the period to double once.
2×72/11.3 ≈ 12.7 . . . . years
_____
The "rule of 72" is an approximation. The actual quadrupling time for this interest rate and compounding is about 12.6 years. (The actual product of doubling time and nominal interest rate is about 71.25.)
Answer:
speed=225.75 miles per hour
Step-by-step explanation:
given:
s=301/2
t=2/3
we have,
v=s/t
v=(301/2)/(2/3)
=(301/2)×3/2
=903/4
v=225.75
therefore, speed of car will be 225.75 miles per hour
Answer:
- Fresh Pond: p(t) = 854 +3t
- Strawberry: p(t) = 427·1.10^t
Step-by-step explanation:
(a) The general term of an arithmetic sequence is ...
an = a1 + d(n -1)
If we let the sequence of population numbers be modeled by this, and we use t for the number of years, we want n=1 for t=0, so n = t+1 and we have ...
p(t) = 854 +3(t+1-1)
p(t) = 854 +3t
__
(b) The general term of a geometric sequence is ...
an = a1·r^(n-1)
were r is the common ratio. Here, the multiplier from one year to the next is 1+10% = 1.10. Again, n=t+1, so the population equation is ...
p(t) = 427·1.10^(t+1-1)
p(t) = 427·1.10^t
Answer: 27 days
Step-by-step explanation:
Hi, to answer this question we have to apply inverse relation:
Since it takes 24 electricians 36 days to wire a new housing subdivision, the relation is:
24 (36)
For 32 electricians:
24(36) = 32 (x)
Solving for x (days)
864 =32x
864/32 =x
x= 27 days
Feel free to ask for more if needed or if you did not understand something.
At $19,430 savings with 1.8% annually, the amount yields to $21,528.44 after six years. On the other hand, the deposits of $16,470 at 2.7% simple annual interest creates only $19,138.14. This means that the 2nd strategy works better than the first one. The situation where simple interest occurs naturally is when the principal doesn't change over time. This is true with an interest-only mortgage, for example, where your monthly payments only pay the interest on your loan, but don't pay down the loan itself.
