Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described. Gasoline prices are rising at a rate of 0.5% per month. What is their doubling time? By what factor will prices increase in 4 years? in 8 years? What is its doubling time? months (Type an integer or decimal rounded to the nearest hundredth as needed.).

Q: Noah invests $3,600 for two years.   The account pays 0.43% monthly compound interest. To the…

A: It is given that, principal amount invested is P = $3600, percentage rate is r= 0.43%, No of times…

Q: Express 1.97% as a decimal.

A: We have to convert the percentage into decimal.

Q: Find the effective rate corresponding to the given nominal rate. Round to the nearest hundredth 7)…

A: To calculate the effective rate  given the nominal rate.

Q: You deposit $ 9,906 in an account earning 4 % interest compounded monthly. How much will you have in…

A: Given Data: The principle investment is: P=9906 $. The interest rate is per month is: r=4% Total…

Q: your parents deposited $15,000 into an account when you were born to help pay for college. The bank…

A:

Q: encourage new members a bank offers a savings account of 2.4% interest mpounded monthly provided new…

A: We will determine the account value after 10 years.

Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

Q: What principle should be invested not to ear 100$ simple interest in 5 years at an annual rate of…

A: Simple Interest I=$100Number of years N=5Rate of Interest R=2.5

Q: C.A $9,000 inheritance is invested in a bond fund that earns 6% compounded continuously. How long…

A: For continuous compounding, A=Pert Here, P = $9,000, r = 6% = 0.06 and A = 3P = $27,000

Q: Inflation is causing prices to rise at a rate of 10% per year. For an item that costs $300 today,…

A: Inflation is causing prices to rise at a rate of 10% per year.

Q: How long would it take for your money to double if it is invested at 4% compounded continously?…

A: To calculate the time it takes for your money to double when invested at 4% compounded continuously,…

Q: a) Jerry decides to invest his $1000 into a compound interest account. The account compounds monthly…

A:

Q: Suppose that $1,000 is invested at 5% interest compounded continuously. Use the formula A = Pert.…

A: It is given that $1,000 is invested at 5% interest compounded continuously. That is, P=1000,r=5%.…

Q: How much money will you have in seven years if you deposit $8,000 in the bank at 9% interest…

A: Given: compound interest daily            A=P 1+r365365×twhere A= amount calculated            P=…

Q: 3. Maria borrows $12 000 at 9%/a interest compounded monthly for 10 years. How much money will she…

A:

Q: At a restaurant, on a meal that costs AED 183, a service charge of 12% is added. Then, the customer…

A: The expression "x percent of y" is equivalent to the expression: xy100.