Michael invests USD 20 000 at 9.6% p.a. compounded monthly.
How long will it take for his investment to reach USD 25 000?

Answers

Answer 1

Given :

A = 25000

P = 20000

r % = 9.6 % = 0.096

n = 12

To Find :

The time taken say t.

Solution :

We know, compound interest is given by :

[tex]A=P(1+\dfrac{r}{n})^{n.t}[/tex]

Taking log both sides :

[tex]A=P(1+\dfrac{r}{n})^{n.t}\\\\log\ \dfrac{A}{P}= n.t\times log( 1+\dfrac{r}{n})\\\\t =\dfrac{1}{n}\times \dfrac{log\ \dfrac{A}{P}}{log(1+\dfrac{r}{n})}\\\\\\t=\dfrac{1}{12}\times \dfrac{log\ \dfrac{25000}{20000}}{log(1+\dfrac{0.096}{12})}\\\\\\t=2.33\ years[/tex]

Hence, this is the required solution.


Related Questions

Which shows the steps for performing long division in the correct order?
multiply, subtract, divide, repeat
multiply, divide, subtract, repeat
divide, subtract, multiply, repeat
divide, multiply, subtract, repeat

Answers

Answer:

divide, multiply, subtract, repeat

Step-by-step explanation:

first you divide  then multiply subtract and repeat and then you will get your Answers

option d

Step-by-step explanation:

Write an
equation for the line parallel to the given line that contains C.
4
C(-2,5); y=5X-8

Answer fast please!!!

Answers

It’s very blurry for me I can’t see the question

how can you determine whether a fraction is larger or smaller than 1/4

Answers

If the fraction Has a lesser numerator

What is
4 3/20 written as a decimal?

Answers

4.15 hope this helps

Answer:

[tex]4\frac{3}{20}[/tex]=4.15

The line with the equation y=4x+5 undergoes a dilation with a scale factor of 2 and the center at (0,2). Determine the equation of the line that is a result of the dilation

Answers

Answer:

2=4x+5 I am not 100% sure about this though.

"the advrage a of 2 numbers c and d is equal to half the sum of c and d " this whole qustion confuses the I am basically supposed to put it into a equation but it's just not clicking for me can you help?​

Answers

Answer:

[tex] \frac{c + d}{2} [/tex]

Step-by-step explanation:

this is the equation used to find the average of two numbers.

This Equation has only one solution 5(x-1) +3x = 7(x + 1) its an emergancy

Answers

Answer:

12

Step-by-step explanation:

5(x-1) +3x = 7(x + 1)

5 × x - 5×1 + 3x = 7 × x + 7 × 1

5x-5+3x=7x+7

8x-5=7x+7

8x-7x=7+5

x=12

hope it helps you!!

8 + z = 19. step equations

Answers

Answer:

11

Step-by-step explanation:

First subtract

19-8= Z

So solution would be

Z=11

Answer:

z=11

Step-by-step explanation:

step 1:simplify both sides of the equation

z+8=19

step 2:subtract 8 from each side

z+8-8=19-8

A student wants to conduct an investigation to find out how much heat energy a 100-gram rock can transfer to water. He has the rock and 300 grams of water in an insulated container. The water is at 20°C. He heats up the rock to 50°C, and places it in the water. What is the most important data for the student to record for this investigation?

I need help with 7th grade science

Answers

Answer: The temperature change of the water

The most important data that the student would have to record for the investigation that he is carrying out is temperature.

What is temperature?

This is the term that is used to refer to the degree of hotness or the degree of coldness of a given body.

The temperature is the solution here because the factor that the student is set to find out would be how heat is able to transfer to water.

The variable that would be used to represent heat is going to be temperature. This is what would help to determine the amount of heat that has transferred.

This can be checked with the use of a thermometer. The investigation that the student is carrying out here would be what is called a research study.

Heat is one of the variables that is used in the research study. Therefore we can conclude by saying that the most important data that is going to be used in this research would be what is called temperature.

Read more on research investigations here: https://brainly.com/question/25578076

#SPJ1

Which expression is equivalent to 3(4x + 2/3) -7x + 3/8

Answers

Answer:

= 5x+ 19/8

Step-by-step explanation:

=12x+2-7x+ 3/8

=5x + 19/8

Marco needs to buy some dog food at the nearest store five bags of dog food cost $27.50 how much would Marco spin on three bags of dog food

Answers

Answer:

16.5

Step-by-step explanation:

Answer: 16.50

Step-by-step explanation:

First, you need to divide 27.50 by 5. (It's easier to multiply the number by 100 so it's 2750, then divide the quotient by 100 to get the actual answer). Then after you divide 27.50 by 5 you will get 5.50. Multiply that by 3 and get 16.50!

In the triangular prism shown below, which lines are intersecting? Select all that apply.

Answers

Answer:

It’s HK and GH because that’s the only pair that are perpendicular

Step-by-step explanation:

Hk gh there the only ones that are perpendicular hope this helps

Solve the equation


2(x+5)=-2

Answers

Answer:

x = -6

Step-by-step explanation:

Distribute the 2 into the brackets:

2x + 10 = -2

leave the 2x alone on one side:

2x = -2 -10

2x = -12

divide both sides by 2:

x = -6

pls help me! i will give u brainliest

Answers

Answer:

1st is rational 2nd is irrational 3rd is irrational 4th is rational 5th is irrational

Step-by-step explanation:

John went to an electronics store to purchase a new computer. The electronics store allowed John to make payments on the computer instead of paying the entire amount upfront. If John decides to purchase a computer that costs $1,260, and he makes 6 equal monthly payments, what would be his monthly payment?

Answers

Answer:

The monthly payment is $210

Step-by-step explanation:

The computation of the monthly payment is shown below:

Given that

The cost of the computer i.e. purchased is $1,260

And, there are 6 equal monthly payments

So, the monthly payment is

= Computer cost ÷ number of equal monthly payments made

= $1,260 ÷ 6 payments

= 210

hence, the monthly payment is $210 and the same is to be considered

Find the distance between the two points in simplest radical form.
(8,-3) and (6,-8)

Answers

Answer:

5/2

Step-by-step explanation:

4x + 3 - 2x + 7 = 24

Answers

Answer:

x=7

Step-by-step explanation:

4x+3-2x+7=24

We move all terms to the left:

4x+3-2x+7-(24)=0

We add all the numbers together, and all the variables

2x-14=0

We move all terms containing x to the left, all other terms to the right

2x=14

x=14/2

x=7

   

19. the sum of twelve and sixteen divided by the sum of three and four

Answers

Answer:

4

Step-by-step explanation:

Add 12 and 16 ( 28 ) then add 3 and 4 ( 7 ) lastly, you will divide 28 and 7 to get 4

See attachment for math work and answer.

Which table represents a nonlinear function?

Answers

Answer:

The middle one

Step-by-step explanation:

Answer: The Middle Graph - represents a nonlinear function

Identify all angles that are formed when parallel lines are cut by a transversal.

Answers

Answer:

I sorry I cant help with this problem

For problems 1 & 2 determine favg [tex]f(x)=8x−3+5e2−x on [0,2][/tex]for the function on the given interval

Answers

Answer:

hellooooo

Step-by-step explanation:

mkay

Help pls I don’t get it it’s due in a few minutes

Answers

I think it's the first option

Answer:

The correct answer is A the slope will be -0.75

Step-by-step explanation:

See the chart below

Hope this helps.

Which could be the missing first term of the expression that, when fully simplified, would be a binomial with a degree of 4? Select THREE options.

•0
•5xy3
•9x2y
•8y4
•4xy3

Answers

Answer:

I JUST DID THE TEST ON EDGE. The answer is: A (0) C (9x2y) And E (4xy3)

Step-by-step explanation:

I hope this helps!!!

Answer:

the answer is a , c e :)

Step-by-step explanation:
















An online music store is offering a promotion. When you spend $45 or more, you receive 3 songs for free. You buy an album for $15. Identify the inequality that represents how much more money m you must spend to receive the three free songs.

Answers

Answer: x ≥ $30.

Where x is the amount of money that you need to spend if you want to have the 3 free songs.

Step-by-step explanation:

When you spend $45 or more, you get 3 free songs.

You already bought an album that costs $15, then the minimum amount that you need to spend is (when you spend exactly $45):

$45 - $15 = x = $30.

Then the inequality is:

x ≥ $30.

Because if you spend more than $45 you also get the songs.


Pamela is 7 years older than Jiri. The sum of their ages is 53. What is Jiri's age?

Answers

Answer:

46

Step-by-step explanation:

if there ages in total  is 53 and pamela is 7 years older than jiri

53-7  would give u jiri age

what is the answer to this

Answers

The answer is= 2 6/10

Which of the following conjectures is false?





a
The sum of two even numbers is even.
b
The product of two even numbers is even.
c
The sum of two odd numbers is odd.
d
The product of two odd numbers is odd.

Answers

It’s B that doesn’t even make sense there are endless of possibilities of numbers there not all 7
It is B tell me if I’m wrong please so I can fix my mistake

Identify a pair of same-side interior angles

Answers

Answer:

I cant see the attachment

Step-by-step explanation:

???

Answer:

ITS 4 AND 7 Step-by-step explanation:

-12-4n=20
What does n equal

Answers

i think it’s n = -8

The following statement is an example of: every fall there have been hurricanes in the tropics. Therefore, there will be hurricanes in the tropics this coming fall.



Is it deductive, indutive reasoning or a conjecture.

Answers

Answer:

Deductive reasoning

Step-by-step explanation:

Here, we want to know the kind of reasoning the statement is.

In this question, the kind of reasoning is deductive

In the deductive reasoning type, we go from general cases to specific cases

It is just like saying the reason why there will be hurricanes in the tropics this fall is because there is an hurricane every fall

So we have gone from a general case to give a specific case

The kind of reasoning which is depicted by the statement given above is deductive reasoning.

From the statement, we are moving from a general perspective, which is the fact that, hurricane occurs every fall in the tropics.

Using these general precedence, we deduce that the same event will occur again.

We are basing a reasoning on a general fact, hence, the reasoning is deductive.

Therefore, the reasoning in the scenario above is deductive.

Learn more :https://brainly.com/question/22645767?referrer=searchResults

Other Questions
An airplane flies with a constant speed of 540 miles per hour. How far can it travel in 1 1/4 hours? Which of the following tools did Sumerians use to write with?lead pencilsreed penshandmade paperinks and dyes Who abandoned the East Texas mission, San Francisco de los Tejas, but wanted to return to try again? a.Father Massanetb.Father Hidalgoc.the viceroy of New Spaind.Louis St. DenisPlease select the best answer from the choices providedABCD 3(2x + 1) + 2(x + 3) What was the most important historical effect of the astrolabe? A. It enabled sailors to find their latitude. B. It may have originated in Africa. C. It made possible long voyages beyond sight of land. D. It spread from Africa or the Middle East to Europe. what is this question asking me?? IM SO CONFUSED!!!!! Do you feel like you have a role or place in society? If so, what is it? If not, what would you like your role in society to be? Is it influenced by your family? Your culture? what kinds of laws does congress vote on Please help me with short note on Lamarckism. How do you solve a perpendicular equation? what element is 1s2 2s22p6 3s23p6 4s2 3d10 4p6 5s2 4d10 5p6 6s2 4f10 If the principle is $200 and the interest rate is 4% how is a fairy tale or myth to be read Which of the following is an example of physical change? Your internet provider offers two different plans. One plan costs $.02 per emailplus a $9 monthly service charge. The other plan costs $.05 per email with noservice charge.a. Write a system of equations to model the cost of the two internet plans.b. For how many email messages will both plans cost the same?c. If you send and receive about 500 email messages per month, which planshould you use? how does the rise and the fall of the berlin wall relate to the cold war please answer 9 or 11 or both pleasseeee How are Texas judges selected? O President Appoints, Senate Confirms O Elected by the people Appointed by the Governor Voted on by the State Legislature Researchers have measured the acceleration of racing greyhounds as a function of their speed; a simplified version of their results is shown in (Figure 1). The acceleration at low speeds is constant and is limited by the fact that any greater acceleration would result in the dog pitching forward because of the force acting on its hind legs during its power stroke. At higher speeds, the dog's acceleration is limited by the maximum power its muscles can provide.How far does the dog run until its speed reaches 4.0 m/s? Problems within the business is calledrisk.O complianceoperationalO financialstrategija 1. only paid by a company when they are in operation