0
If a certain sum of money at SI doubles itself in 5 yrs then what is d rate?
Wiki User
∙ 14y ago
it is fifth root of 2 = exp (log 2)/5) = 1.1487 = 14.87%
The above applies to Compound Interest:
At Simple Interest I = PTR/100. In this case I = P, T = 5 and R is unknown.
100 x I = I x 5 x R ie 100 = 5 x R so R = 20%
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What are 3 real life examples of rate of change?
Velocity is the rate of change of position. Acceleration is the rate of change of velocity. How fast you spend money. How fast you do a certain job done, assuming it can be split into pieces. For example, wash dishes.
What rate of interest compounded continuously is required to triple an investment in 8 years?
Solve the following equation: (1 + x/100)8 = 3. That is, your money increases by a certain factor each year; the factor is the capital plus the percentage rate (divided by 100), and if you multiply the factor by itself 8 times, you get a factor of 3. To start solving this, take the 8th. root left and right.
What is the interest rate to double money in seven years?
If you have an annual interest rate then is 10.405%
What is the control of the supply of money by adjusting the interest rate it charges the borrowers by the Federal Reserve?
discount rate👍🏽
What is rule 72?
How long it will take for your money to double/divide the annual interest rate into 72.
What is the rate of interest if a sum of money doubles itself in 10 years at simple interest?
A simple interest rate of 10 per cent per year will double a sum of money in ten years.
What is the definition or compounded growth rate?
Compounded growth rate is a situation in which the rate eg. mortgage compounds (grows) at a certain percentage over a certain period of time. and then doubles, triples depending on the growth rate as time goes on. The only certain factor in a compounded growth rate is time. The other factors can be replaced by other variables such as weight, money, crops etc eg. 2- month1 4 - month2 6 - month3 8 - month4 10- month5 12-month6
A sum of money doubles itself at compound interest compounded annually in 15 years-what is the rate of interest?
The formula is (1+r)^n -1. r= rate of return (ie 100%) n=number of compounding periods so (1+1)^15 -1= 32767 or 3276700%
What are interest rate loans?
Financials charge a certain percentage rate to allow for profit, risk and the ability to give you money. The rate is dependant on credit, term and amount.
How is distance effected when time or rate is decreased or increased?
distance = rate x time the distance is increased or decreased in direct proportion to the rate or time. If the rate doubles the distance doubles in given time; If the time doubles the distance doubles at a given rate.
What is a financed car?
A "financed" car is one that is purchased with money that is loaned to you. You then make monthly payments at a certain rate and percentage for a certain number of years and months. The car is owned outright by the one who lent the money.
In which situations is it certain that the quantity of money demand by the public will decrease?
nominal GDP decreases and the interest rate decreases
How does temperature affect the rate of a chemical change?
Changing temperatures has a dramatic affect on the rate of chemical reaction. As an example for every 10 degrees you raise the environment the reaction doubles (to a certain degree)
What is the highest money market interest rate so far this year?
Money market interest rates vary based on the value of the money market account itself. For accounts ranging from 10 to 25 thousand dollars, the best rate is from Everbank at 1.01 percent.
In how may years a sum of money at the rate of 10 percent simple interest per annum will triple itself?
30 years
What does the currency exchange rate tell you about money?
It tells you how much your money is worth is other parts of the world with different currencies, such as Euros or Peso. If you are planning a trip to Europe, the exchange rate tells you how many Euros you will get for a certain amount of USD or CAD.
What is the rate of zakaah for money in percentage?
The rate of Zakaah for money is (in percent)
