hernandezjeanet hernandezjeanet
  • 07-11-2018
  • Mathematics
contestada

Find how long it takes a $700 investment to earn $230 in interest If it is invested at 5% compounded semi-annually.
- round 3 decimal places

Respuesta :

wegnerkolmp2741o
wegnerkolmp2741o wegnerkolmp2741o
  • 07-11-2018

P x (1+r/n)^nt = F

where P is principal

r is the rate

n is the number of times per year

t = years

P x (1+r/n)^nt = F

700*(1+.025)^2t) =930

divide by 700

(1.025)^2t = 93/70

2t log (1.025) = log (93/70)

2t = log (93/70) divided by log (1.025)

2t =11.5056

t=5.753 years


Answer Link

Otras preguntas

How is the direction of an electric field defined?
You are planning to make an open rectangular box from an 8-inch by 15-inch piece of cardboard by cutting congruent squares from the corners and folding up the s
Seismic waves will ___________ when they encounter plastic material. speed up travel straight paths disappear slow down
what is meant by popluar sovernity and why was it important
How many nanoseconds does it take light to travel 4.00 ft in vacuum??
in about 500 words what does it mean to listen responsively
Truly to speak and with no addition we go to gain a little patch of ground meaning
When the DNA begin to coil and condense, the cell is in _____. G0 phase G1 phase G2 phase S phase
The parabola x = y² - 9 opens:
In which scenario is elastic potential energy present? A bird sits in its nest in a tree. A snake slithers through a leaf pile. A dog sniffs at the base of a t