(a) At a simple interest rate of 12% per year, determine how long it will take $5000 to increase to twice as much. (b) Compare the time it will take to double if the rate is 20% per year simple interest.

Answers

Answer 1

Explanation:

10000=5000(1.12^x)

2=1.12^x

(log_1.12)(2)=x

x= about 6.1163

10000=5000(1.2^x)

2=1.2^x

(log_1.2)(2)=x

x= about 3.8019

compare them by saying like 20% will be 6.12/3.8 times faster


Related Questions

Other Questions
name the national heritage of nepal which are listed in the list of world heritage by unesco and describe about any one in short Why were women given the vote in Britain in 1918? Please help me fast why is lithium used in the body? Using the scale 1 cm : 5 meters, Tamara calculated the length of her old gym to be 45 meters and the width to be 20 meters.Using a new scale, 1 cm : 10 meters, she found the length of the new gym to be 90 meters.The width of the new gym is meters.The length and width of the new gym are times the length and width of the old gym. what unit of measure would i use to measure the width of my fingernail A millimetersB centimeters C meters D kilometersE grams STATER: Ranking the importance. Rank the following causes of war from most to leastimportant.Nationalism Assassination Militarism Imperialism Alliances helppppp please help! i would appreciate it! What impact of not being a more farming based region made New England unique?A.More of their population lived in towns and small citiesB. They often lacked enough food to feed themselvesC. They were not able to trade with other countries like the other regions wereD. They did not have as much money and prosperity 2. Tamara has to go on a business trip. Including taxes, her round trip airfare is $400 and her room costs $150 per night. The cab fare from the airport to the hotel is $40. If Tamara stays for two nights, how much does the trip cost, not including the cost of food? Etxuck327 Inc. sells a particular textbook for $39. Variable expenses are $28 per book. At the current volume of 49,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total: An experiment consists of determining the speed of automobiles on a highway using a radar equipment. The random variable in this experiment is a: 29 2/3 divide 7 1/2whats the answer how were they used as backgroun which of the following describes a custom A. doing your homeworkC. not litteringB. shaking hands when you greet someoneD. studying geography Which element contains one set of paired and three unpaired electrons in its fourth and outer main energy level? A dull metal object has a density of 8.8 G/ML and a volume of 20 ML calculate the mass Around the world, gender is the primary division between people. Is this statementtrue or false? What is the relationship between the latitude and hours of daylight you just purchased a new hooded sweatshirt for $24. the total cleaning cost is $2 total because it will be washed with other sweatshirts. you will wear the sweatshirt 18 times this winter. calculate the cost per wearing.