Use the rule of 70 to estimate the time required for the given principal P to double

Question:

Use the rule of 70 to estimate the time required for the given principal P to double at the annual percent interest rate R. Check your answer by using the continuously compounded interest formula.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Algebra With Modeling And Visualization

ISBN: 9780134418049

6th Edition

Authors: Gary Rockswold

See More Books

Question Posted: Jun 17, 2023 11:04 AM

See More Questions

1. Suppose that a $100,000 investment grows 3% during the first year and 4% during the second year. By what percent will it have grown after the 2-year period? (The answer is not 7%) 2. Rework...
The following table shows the average annual growth rate in real GDP per capita for Argentina, Ghana, and South Korea using data from the World Bank, World Development Indicators, for the past few...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Research the Fisher-Yates shuffling algorithm online, then use it to reimplement the shuffle method in Fig.7.12. Fig.7.12 I // Fig. 7.12: DeckOfCards.java 2 // DeckOfCards class represents a deck of...
If the Fed loans depository institutions $200 million in reserves from the discount windows of the Federal Reserve banks, by how much will the legal reserves of the banking system change? What...
Define and briefly explain each of the following terms or procedures: a. Sensitivity analysis b. Scenario analysis c. Break-even analysis d. Monte Carlo simulation e. Decision tree f. Real option g....
Consider a Rutherford scattering experiment in which an alpha particle is fired at a sheet of atoms only one atomic layer thick (Fig. P29.3). The radius of an alpha particle is about 1 fm (1x10 -15...
Mr. Gennone maintained a checking account at Peoples National Bank & Trust Company of Pennsylvania (Bank). Gennone noticed that he was not receiving his bank statements and canceled checks. When...
please Question 13 1 Point What type of service is being done by an auditor in which he advices management on how to improve the effectiveness of its advertising policies in promoting the company's...
Use the rule of 70 to estimate the time required for the given principal P to double at the annual percent interest rate R. Check your answer by using the continuously compounded interest formula. P...
Use the quotient rule to simplify the expression. Use positive exponents to write your answer.
For the jack of Prob. 8.70, determine the magnitude of the couple M that must be applied to lower the automobile. Problem 8.70: The position of the automobile jack shown is controlled by a screw ABC...
Most research indicates that good leaders exhibit these leadership skills / https://emeritus.org/blog/leadership-skills-for-managers/ Which of these skills, in your opinion, are the most difficult to...
Consider the following account balances (in thousands) for the Shaker Corporation In the Dec 31.2021 Cash $200,000 and Capital $2,000,000 and Retained earnings $1,500,000 The balances of raw...
Given: a = -7,b=-519, c = < 5,-1,9 >,d= 2j - 4k, e = < 4, -6, -3> F = 6 -[312].G=124 -91 2x1 Determine the following if possible and if not possible explain why not. i. a ii. |c| iii. |F| iv. V. F-1...
I have been identified and approached by leaders who saw my potential and asked me to apply for a position. I was humbled and honored to be identified and I accepted the invitation. It has led to...
the object is 2.0mm?there are two converging lens on the right side of the object?one is 9.9cm far away from the object and has a focal point 9.0cm?the other is 101.1cm far away from the first lens...
For each food described, find the percent of total calories from fat. If necessary, round to the nearest tenth percent. Nutrition Facts Serving Size cup (33g) Servings Per Container About 9 Amount...
Using Apple, demonstrate how the differentiation strategy can be well implemented.
The following measurements were recorded for the drying time, in hours, of a certain brand of latex paint: Assuming that the measurements represent a random sample from a normal population, find a...
A labor union is becoming defensive about gross absenteeism by its members. The union leaders had always claimed that, in a typical month, 95% of its members were absent less than 10 hours. The union...
For a random sample X 1 , . . . , X n , show that E(X: - 4)? = (X: X) + n(X ). i=1 i=1
Cash from Operating Activities: ______________ Cash from Investing Activities: ______________ Cash from Financing Activities: ______________ Problem 2: Financial Ratios The GAP Macys 1 Current Ratio...
On January 1, 2021, Winky Enterprises issued 12% bonds dated January 1, 2021, with a face amount of $2,800,000. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market...
Using the following accounts and balances, prepare the stockholders' equity vection of the balance sheet. Pilty thousand shares of common stock are authorised, and 1,000 shares have been recoured,...

Use the rule of 70 to estimate the time required for the given principal P to double

Question:

P= $2000, R = 7%

Step by Step Answer:

70 T 7 ...View the full answer

College Algebra With Modeling And Visualization

Students also viewed these Mathematics questions