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

How many plates touch the african plate?
6x+3y=15 ordered pair to this solution
Based on this data, what is a reasonable estimate of the probability that it is sunny tomorrow?
Order these fractions from least to greatest 3/16, -8/10, -3/16.
How does cost-benefit analysis help make economic decisions?
If a city with a population of 150,000 doubles in size every 34 years, what will the population be 68 years from now?
Afghanistan has suffered from drought for many years. One result of a prolonged period of drought is A. populations shift when people leave the drought region
where do you find cartilage?
What is the adverb? Jimmy whistled happily.
A diver descended 64 feet below sea level in 4 minutes. On average, how many feet did he descend each minute