Mathematics: 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?

Michael invests USD 20 000 at 9.6% p.a. compounded

Ответ:

jacob7542

03.02.2022

Mathematics

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 :

$A=P(1+\dfrac{r}{n})^{n.t}$

Taking log both sides :

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

Hence, this is the required solution.

0,0(0 оценок)

Ответ:

kaitlynpaigge

17.04.2023

Mathematics

MSE = 198.18 / 3 = 66.06

Step-by-step explanation:

Time period : Time series value

1 : 9

2 : 2

3 : 9

4 : 16

5 : 11

6 : 2

7 : 7

3 weeks moving average

F4 = average of weeks 1-3 = ( 9 + 2 + 9 ) / 3 = 20 / 3 = 6.67

F4 = average of weeks 2-4 = ( 2 + 9 + 16 ) / 3 = 27 / 3 = 9

F4 = average of weeks 3-5 = ( 9 + 16 + 11 ) / 3 = 36 / 3 = 12

F4 = average of weeks 4 - 6 = ( 16 + 11 + 2 ) / 3 = 9.67

attached is the table showing the development of the 3-week moving average

Develop a 3-week moving average for the following time series Time PeriodTime Series Value 19 22 39

0,0(0 оценок)

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?

Ответ:

Ответ:

Ask your question to the AI advisor

More tips

Answers on questions: Mathematics

Ask an AI advisor a question