Jon has 5,000 to invest in a savings account that has interest compounded annually . if he wants his money to double in eight years , what percent must the interest rate be on the account ?

9.1%

Step-by-step explanation:

Use the compound amount formula:

A = P(1 + r/n)^(nt), where P is the principal ($5000), r is the interest rate as a decimal fraction and is to be determined; n is the number of compounding periods per year (1 in this case), and t is the number of years.

Here we have A = double P = 2P =P(1+r/1)^(1*8), or

                                                  2   = (1+r)^8

We solve this for r by taking the natural logarithm of both sides:

                                                 ln 2 = 8*ln(1+r), or (after dividing both sides by 8)

                                                  ln 2

                                                  = ln (1+r)

                                                      8

                                                   0.6931

Since ln 2 = 0.6931, we have   = 0.0866 = ln (1+r)

                                                        8

Raise the base e to the power 0.0866 on the left side and raise the base e to the power ln (1+r) on the right side, obtaining:

1.091 = 1 + r

Subtracting 1 from both sides yields the desired value of r:

0.091 = r

The interest rate must be 9.1% for Jon's $5000 to double in eight years.

sas (side angle side)

aa (angle angle)

sss(side side side)

sas find two sides with an angle in between

aa is finding two angles and the third will add up to 180

sss find all sides

step-by-step explanation:

system of linear equation

step-by-step explanation:

as given in the data

a= 20 , b= -12

let us suppose that it is a straight line equation

now we know the formula for the system of linear equation

b= ma + c )

here m is slope of a straight line which is equal to formula

m=   (ii)

and here c is a constant

now putting the value of a and b in equation (ii)

m=

m=

putting the value of a,b and m in equation (i) gives us

-12 = + c

-12=-12 + c

adding 12 to both sides

-12 +12 = -12 +12 +c

0 =c

or c=0

as the value of the constant is zero which gives us that it is a linear equation and this order pair satisfies the system of linear equations.