首页
登录
职称英语
A college student expects to earn at least $1,000 in interest on an initial inve
A college student expects to earn at least $1,000 in interest on an initial inve
游客
2024-01-12
10
管理
问题
A college student expects to earn at least $1,000 in interest on an initial investment of $20,000. If the money is invested for one year at interest compounded quarterly, what is the least annual interest rate that would achieve the goal?
选项
答案
4.91 percent
解析
According to the formula for r percent annual interest, compounded quarterly, the value of the investment after 1 year is
By setting this value greater than or equal to $21,000 and solving for r, we get
We can use the fact that taking the positive fourth root of each side of an inequality preserves the direction of the inequality. This is also true for the positive square root or any other positive root.
To compute the fourth root, we can use the fact that
for x ≥ 0; that is, we can compute a fourth root by taking a square root twice:
So the least annual interest rate is approximately 4.91 percent.
转载请注明原文地址:https://tihaiku.com/zcyy/3355432.html
相关试题推荐
Theteacherhashisstudents______acompositioneveryotherweek.A、towriteB、
Ifyouspeakslowlyandclearly,thestudentswill______themeaning.A、takeon
Allthereferencebooksshouldbemade______totheteachersandstudentsinour
Ourstudentsarefreetostudy______intereststhem.A、thatB、whicheverC、whatever
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
随机试题
Mostofushaveformedanunrealisticpictureoflifeonadesertisland.We
Therearemomentsinlifewhenyou【C1】______someonesomuchthatyoujustwa
一、考题回顾 二、考题解析 【教学过程】 环节一:生活导入 【提出问
甲公司与乙公司签订一份买卖合同,约定采用见票即付的商业汇票支付货款。后乙公司以自
唱片公司为歌手举办不售票歌友会时不需要报批。()
病毒性脑炎早期脑脊液改变为A.蛋白正常或轻度增高,细胞分类以中性粒细胞为主,糖为
著名的《德意志安魂曲》是()的作品。A.舒曼 B.勃拉姆斯 C.贝多
对于采用变动总价计价的施工合同,在合同中通常可以约定调整合同价款的情况有()
爬梯应安装牢固,并可靠接地,应装设护笼或采取其他防跌落措施,并可靠接地
实行备案管理的项目,企业应当在开工建设前通过在线平台告知备案机关的信息主要有(
最新回复
(
0
)