americaflores795
americaflores795 americaflores795
  • 04-04-2020
  • Mathematics
contestada

Using the rule of 72,= , how long will it take for the principal to double with an annual compound interest rate of 6%?>6 years
>9 years
>12 years
>15 years​

Respuesta :

kenlingdad kenlingdad
  • 04-04-2020

Answer:

>12 years

Step-by-step explanation:

P' = P (1 + r)ⁿ

P' = 2P

2P = P (1 + 0.06)ⁿ

1.06ⁿ = 2

n = log₁.₀₆ 2 = 11.9

Answer Link

Otras preguntas

Prove that (x^5)-(x^2)+2x +3=0 has at least one real root. Prove that x=cosx has at least one solution.
what is the answer for (20,8),(9,16) ?
what is the answer for (20,8),(9,16) ?
Marika and Freddy sold 70 homes for Ron Realty. If Marika sold 2.5 times as many homes as Freddy, how many homes did each sell?
How is it possible for Mercury to have frozen ice ?
Scarcity is the condition of not having enough goods and services to satisfy everyone's?
Scarcity is the condition of not having enough goods and services to satisfy everyone's?
find an equivalent expression without parentheses -(50x-15y+15)=
find an equivalent expression without parentheses -(50x-15y+15)=
how is mass transit in cities a possible solution tk urban air pollution?