jonescookie2005 jonescookie2005
  • 13-04-2018
  • Mathematics
contestada

you are earning 14% on your money. How long will it take to double your money?

Respuesta :

mathmate
mathmate mathmate
  • 13-04-2018
Quick answer (approximate)
Use the rule of 72 to calculate the time=72/14=5.14 years

Accurate answer, assuming compounding period is annual
and using the compound interest formula
2000=1000(1+0.14)^n
Transpose
(1.14)^n=2
n=log(2)/log(1.14)=5.29 years

Answer Link

Otras preguntas

Match the correct words : Meanwhile Accepted Rejected Earns Election Temporarily Troops Rates Resign Influence
i need help solving for x. with pythagorean theorem.​
if the volume of a cone is 12 what is the volume of a cylinder having the same base and height
Someone help me please! *not a test or quiz*
What is the value of loge 36? O -6 -2 2 6
] After treatment, hospital equipment may become contaminated. Describe the level of the hazard associated with contamination with technetium-99. You should inc
Acetylene, c2h2 c 2 h 2 , can be converted to ethane, c2h6 c 2 h 6 , by a process known as hydrogenation. the reaction is c2h2(g)+2h2(g)⇌c2h6(g) c 2 h 2 ( g ) +
(PLS HELP, if you send a file i'm reporting you)
The light from many stars can be seen from Earth. But there is a time delay between the time the light is emitted from the star and when we see it here on Earth
Find the GCF of 60, 96, and 156.