Mathematics, 26.05.2021 02:40 nayellisoto15

Mauricio plans on retiring in 20 years, and he wants to double his money by that time. He has contacted various banks, looking for a CD that compounds interest monthly, and to calculate what annual interest rate he needs, he is using the rule of 72. Part I: What is the rule of 72? To represent the annual interest rate, use r.

Part II: What equation can Mauricio set up to solve for the annual interest rate he needs to double his money by the time he retires?

Part III: What annual interest rate does Mauricio need to double his money by the time he retires?

Answers: 3

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 16:00, hailee6053

Choose the correct slope of the line that passes through the points (1, -3) and (3, -5)

Answers: 3

continue

Mathematics, 21.06.2019 22:30, emmanuelmashao5504

Given that y varies directly to the square root of (x + 1), and that y = 1 when x = 8,(a)express y in terms of .x,(b)find the value of y when x = 3,(c)find the value of x when y = 5.

Answers: 1

continue

Mathematics, 21.06.2019 23:00, Pankhud5574

Is a square always, sometimes, or never a parallelogram

Answers: 2

continue

Mathematics, 22.06.2019 00:00, heyyyyy117

Define the type of sequence below. 7, 14, 28, 56, 112, a. neither arithmetic nor geometric b. arithmetic c. both arithmetic and geometric d. geometric

Answers: 1

continue

You know the right answer?

Mauricio plans on retiring in 20 years, and he wants to double his money by that time. He has contac...