Asked by fizz
6.how long will it take for a sum of money to quadruple at 10 percent compounded annually ?
7. At what rate compounded semi-annually will RM2000 become RM 3500 in five years ?
7. At what rate compounded semi-annually will RM2000 become RM 3500 in five years ?
Answers
Answered by
Damon
1.1^n = 4
n log 1.1 = log 4
n = log 4/log 1.1 = 14.5
(1 + r/2)^10 = 3500/2000
10 log (1 + r/2) = log 1.75
log (1 + r/2) = .0243
1 + r/2 = 1.05756
r/2 = .05756
r = .115 or 11.5 %
n log 1.1 = log 4
n = log 4/log 1.1 = 14.5
(1 + r/2)^10 = 3500/2000
10 log (1 + r/2) = log 1.75
log (1 + r/2) = .0243
1 + r/2 = 1.05756
r/2 = .05756
r = .115 or 11.5 %
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.