Question

The future value of an investment of $7500 at interest rate r (in decimal form), compounded annually for 7 years, is given by: S=7500(1+r)^7 Use the root to find the rate r that will give a future value of $12900. Round to three decimal places as needed. Do NOT provide r as a percent!

167

likes

833 views

Answer to a math question The future value of an investment of $7500 at interest rate r (in decimal form), compounded annually for 7 years, is given by: S=7500(1+r)^7 Use the root to find the rate r that will give a future value of $12900. Round to three decimal places as needed. Do NOT provide r as a percent!

$Expert avatar$

Hermann

4.6

126 Answers

12900 = 7500(1 + r)^7

Divide both sides by 7500:

\frac{12900}{7500} = (1 + r)^7

1.72 = (1 + r)^7

Take the 7th root of both sides:

1 + r = \sqrt[7]{1.72}

Using a calculator:

1 + r = 1.0788

Subtract 1 from both sides to find $ r $:

r = 1.0788 - 1

r = 0.0788

Rounding to three decimal places:

r \approx 0.079

Therefore,

r \approx 0.079

Frequently asked questions (FAQs)

What is the domain of the trigonometric function f(x) = sin(x) - cos(x)?

What is the smallest value of n that satisfies the equation x^n + y^n = z^n, where x, y, and z are positive integers, as stated in Fermat's Last Theorem?

What is the probability of rolling an even number on a fair 6-sided die?

New questions in Mathematics

a runner wants to build endurance by running 9 mph for 20 min. How far will the runner travel in that time period?

Imagine that you are in an electronics store and you want to calculate the final price of a product after applying a discount. The product you are interested in has an original price of $1000 MN, but, for today, the store offers a 25% discount on all its products. Develop an algorithm that allows you to calculate the final price you will pay, but first point out the elements.

Calculate the equation of the tangent line ay=sin(x) cos⁡(x)en x=π/2

Given that y = ×(2x + 1)*, show that dy = (2x + 1)" (Ax + B) dx where n, A and B are constants to be found.

4X^2 25

The expected market return is 13,86% and the risk free rate 1%. What would then be the risk premium on the common stocks of a company which beta is 1,55? (in %, 2 decimal places)

"If three wolves catch three rabbits in three hours, how many wolves would it take to catch a hundred rabbits in a hundred hours?" The answer is the number of response units.

How many different ways can a psychology student select 5 subjects from a pool of 20 subjects and assign each one to a different experiment?

In a grocery store, when you take out 3 peppers and 4 carrots, there are 26 peppers and 46 carrots left. How many peppers and carrots were there initially?

Determine the reduced equation of the straight line that is perpendicular to the straight line r: y=4x-10 and passes through the origin of the Cartesian plane

A person decides to invest money in fixed income securities to redeem it at the end of 3 years. In this way, you make monthly deposits of R$300.00 in the 1st year, R$400.00 in the 2nd year and R$500.00 in the 3rd year. Calculate the amount, knowing that compound interest is 0.6% per month for the entire period. The answer is 15,828.60

sum of 7a-4b+5c, -7a+4b-6c

From 1975 through 2020 the mean annual gain of the Dow Jones Industrial Average was 652. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume the standard deviation is 1539

A function is considered exponential when it has a base with positive values greater than zero and different from one, where the exponent is an unknown. An important characteristic of exponential functions is that they show rapid growth or decay as an independent variable increases or decreases. Given the function 25^(x+3)=125, it is calculated that x has the value of

If the regression equation is given by 4x –y + 5 = 0, then the slope of regression line of y on x is

Let x be an integer. Prove that x^2 is even if and only if is divisible by 4.

The mass of 120 molecules of X2C4 is 9127.2 amu. Identify the unknown atom, X, by finding the atomic mass. The atomic mass of C is 12.01 amu/atom

-5x=115

t+72/t=-17

A plant found at the bottom of a lake doubles in size every 10 days. Yeah It is known that in 300 days it has covered the entire lake, indicate how many days it will take to cover the entire lake four similar plants.

The future value of an investment of $7500 at interest rate r (in decimal form), compounded annually for 7 years, is given by: S=7500(1+r)^7 Use the root to find the rate r that will give a future value of $12900. Round to three decimal places as needed. Do NOT provide r as a percent!

You might be interested in