![lolag2122](/avatars/24349.jpg)
lolag2122
05.07.2021 •
Mathematics
How long will it take 500 dollars to double if it is invested at 7% interest compounded semi-annually
Solved
Show answers
More tips
- C Computers and Internet What is the Meaning of lol and How Did it Become Popular?...
- C Computers and Internet Clearing Cache: How to Speed Up Your Browser...
- H Health and Medicine How to Help Men Gain Weight?...
- F Family and Home How to Build a Strong Relationship with Your Child: Tips for Effective Communication...
- L Legal consultation Juvenile Justice: Who Needs It?...
- F Food and Cooking What age is appropriate for giving your child cocoa?...
- A Animals and plants Why do cats go crazy over catnip?...
- H Health and Medicine How to Cure Adenoids?...
- S Science and Technology Why is there no gravity on other planets?...
- F Food and Cooking How to Properly Wash a Down Jacket? Tips from Experts...
Answers on questions: Mathematics
- M Mathematics You have $10,000.00 in a mutual fund account that earns 3% interest. What is the amount of interest you have in the account at the end of the first year?...
- M Mathematics A shipment to a warehouse consists of 4 large boxes weighing 18.5 pounds each, 2 medium boxes weighing 6.75 pounds each, and 14 small boxes weighing 78 pounds each. What is the...
- M Mathematics What is the value of the expression when n = 3? StartFraction 6 (n squared plus 2) Over n EndFraction 16 22 30 66...
- M Mathematics Hleppepeep me this IS DUE TODADDYDDY...
- M Mathematics Jay and Talia are hiking different trails. In the middle of their hikes, jay is 20 feet below sea level and Talia is the same number of feet above sea level. Graph Jays elevation...
- M Mathematics Will mark as brianliest...
- M Mathematics I hate fractions pls help. Pls, just pls....
- M Mathematics The point that is the reflection of D across the x-axis and the y-axis is point , and the coordinates of this point are . The reflection of point L across x-axis is point , and...
- M Mathematics Which function is equivalent to f(x) = 4x^2 +26x - 14 f(x) = (4x + 2)(x-7)f(x) = (4x-2)(x + 7)f(x) = (4x + 2)(x + 7) f(x) = (4x-2)(x-7)...
- M Mathematics Macy measures a truck’s tire mark for one complete length revolution as 120.48 inches long.what is the diameter of the tire?...
Ответ:
11 half years
Step-by-step explanation:
The formula for compound interest is
A = P(1+r/n)^(nt), with r representing the interest rate, n being the number of times interest is applied over the time period, and t being the amount of time periods.
If we make the time period a half year (so interest is compounded once per time period), n=2. Then, our interest rate is 7%, or 0.07 (to convert from percent to decimal, simply divide by 100). Our starting amount is 500, and we want it to double, making it 1000. Our formula is thus
1000 = 500 (1+0.07)^(t)
divide both sides by 500
2 = (1+0.07)^(t)
2 = (1.07)^(t)
Using logarithms, we can say that
and using a calculator, we get
10.24 = t
Since interest is only compounded once per time period, though, we have to round up to make sure it doubles, so t = 11
Ответ:
144 is your answer haha