answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
inna [77]
2 years ago
10

Ahmad just put some money into a cd that pays 11.3% interest compounded semiannually according to the rule of 72 in approximatel

y how many years will he have four times the amount of money that he has now
Mathematics
1 answer:
lilavasa [31]2 years ago
5 0
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.)
You might be interested in
The slope of the line below is -5/7 Write the point-slope equation of the line using the coordinates of the labeled point.
Vesna [10]

Answer:

The answer is C) y - 2 = -5/7(x - 6)

Step-by-step explanation:

Since we have the slope (-5/7) and a point (6, 2), we can just input those in for m and (x1, y1) in point-slope form.

y - y1 = m(x - x1)

y - 2 = -5/7(x - 6)

4 0
2 years ago
Read 2 more answers
Kiran has $100 saved in a bank account. (The account doesn’t earn interest.) He asked Clare to help him figure out how much he c
iris [78.8K]
The answer would be 650
3 0
1 year ago
3. You have a square plot of land that has an area of 144 square feet. You
ElenaW [278]

Answer:

113.04square feet

Step-by-step explanation:

square root of 144 is 12

use it as the dimensions of the plot.

the flower gardens largest possible diameter is 12

so divide 12 by a half

6=radius

3.14 times 6squared

you get 113.04

3 0
2 years ago
James works as a waiter. He served meals with bills of $23.59, $40.65, $30.50, and $15.68. If his total for tips was $17.67, wha
mr_godi [17]
<span><span>1.       </span>James works as a waiter.
He served food with the following price
=> 23.59 dollars
=> 40.65 dollars
=> 30.50 dollars
=> 15.68 dollars
Let’s add this altogether:
=> 23.59 + 40.65 + 30.50 + 15.68
=> 110.42 the total of the ordered food.
Now, James received a tip of 17.67 dollars. Find the interest rate of his tip.
=> 110.42 * .50 = 55.21, thus the interest rate of tip is less than 50%
=> You can do trial and error to get the correct rate,
=> 110.42 * .16 = 17.67, thus he received 16% tip</span>



3 0
2 years ago
Read 2 more answers
The weights of all the students in grade 9 are arranged from least to greatest. which statistical measure separates the top half
Kamila [148]
The answer is number 4, average.
8 0
2 years ago
Other questions:
  • The figure shows a kite inside a rectangle. Which expression represents the area of the shaded region?
    8·2 answers
  • Find the distance between the points (-6,7) and (0,8)
    9·1 answer
  • Geometric abstraction is a form of artwork that uses geometric forms or shapes. Some twentieth-century American artists are know
    8·1 answer
  • (1 point) Consider the paraboloid z=x2+y2. The plane 2x−2y+z−8=0 cuts the paraboloid, its intersection being a curve. Find "the
    5·1 answer
  • Jen bought 30 shares of eBay at the close price of $20.95. She bought 20
    12·2 answers
  • Workers at a particular mining site receive an average of 35 days paid vacation, which is lower than the national average. The m
    8·1 answer
  • A broker has a four-year contract to manage a rental unit for an investor. He is to receive 50% of the first month's rent and 5%
    14·2 answers
  • This diagram shows triangles ABC and PQR. ABC is mapped to PQR by combining two single transformations. The first is a rotation
    14·1 answer
  • In a run-off election between two candidates, a total of 25,200 votes were cast. If 300 voters had switched
    13·2 answers
  • Laurel is a huge fan of hats, she likes all kinds of hats and recently started collecting them. She already owns 3 hats. She pla
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!