Mathematics, 31.07.2020 03:01 justinhudson17
You have $1000 to invest in an account and need to have $2000 in one year. What interest rate would you need to have in order to have this if the amount is compounded weekly? Round your answer to the nearest percent.
Answers: 3
![1000\cdot (1+\dfrac{r}{5200})^{52}=2000\\\\\text{*** divide by 1000 both sides ***}\\\\(1+\dfrac{r}{5200})^{52}=\dfrac{2000}{1000}=2\\\\\text{*** take the ln **}\\\\52\cdot ln(1+\dfrac{r}{5200})=ln(2)\\\\\text{*** divide by 52 ***}\\\\ln(1+\dfrac{r}{5200})=\dfrac{ln(2)}{52}\\\\\text{*** take the exp ***}\\\\\displaystyle 1+\dfrac{r}{5200}=exp(\dfrac{ln(2)}{52})=2^{(\dfrac{1}{52})}=\sqrt[52]{2}\\\\r = 5200\cdot (\sqrt[52]{2}-1)=69.77875...](/tpl/images/0715/8592/d4599.png)
Another question on Mathematics
Mathematics, 21.06.2019 14:00
Do graduates from uf tend to have a higher income than students at fsu, five years after graduation? a random sample of 100 graduates was taken from both schools. let muf be the population mean salary at uf and let mufsu be the population mean salary at fsu. how should we write the alternative hypothesis?
Answers: 2
Mathematics, 21.06.2019 17:00
The sum of the reciprocal of a positive number and the reciprocal of 2 more than the number is 3/4 equation: the number is
Answers: 2
Mathematics, 21.06.2019 22:30
Which of the following represents the factorization of the trinomial below? x^2+7x-30
Answers: 1
Mathematics, 21.06.2019 23:30
How do you find the distance of each number from the mean
Answers: 1
You know the right answer?
You have $1000 to invest in an account and need to have $2000 in one year. What interest rate would...
Questions
Mathematics, 16.10.2020 23:01
Mathematics, 16.10.2020 23:01
Biology, 16.10.2020 23:01
History, 16.10.2020 23:01
Mathematics, 16.10.2020 23:01
Mathematics, 16.10.2020 23:01
Mathematics, 16.10.2020 23:01
Mathematics, 17.10.2020 01:01
Chemistry, 17.10.2020 01:01
Mathematics, 17.10.2020 01:01
