(a) At a simple interest rate of 12% per year, determine how long it will take $5000 to increase to twice as much. (b) Compare the time it will take to double if the rate is 20% per year simple interest.
What will be an ideal response?
(a) F = P + Pni
10,000 = 5000 + 5000(n)(0.12)
5000 = 600n
n = 8.33 years
(b) 10,000 = 5000 + 5000(n)(0.20)
n = 5 years
You might also like to view...
_______________control allows the loader bucket to ride on a column of oil in the hoist cylinders.
Fill in the blank(s) with the appropriate word(s).
Holding a seedling by its roots with your hand is the correct method of handling
Indicate whether the statement is true or false.
How does the heating-cycle charge compensator aid the heating cycle?
A) It fills with hot air. B) It stores the unneeded refrigerant. C) It raises the temperature of the refrigerant. D) It makes the gas line cold.
As an apprentice, if you find a discrepancy between the plan drawings and specifications for a job, you should _____.
a. inform the general contractor b. notify your immediate supervisor c. contact the project architect d. speak to the project superintendent