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
2025-02-23
6
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/3969994.html
相关试题推荐
InlearningEnglishweshouldnot______ourstudentsoftheirmistakesallthet
Ifyouspeakslowlyandclearly,thestudentswill______themeaning.A、takeon
Thatstudent______hishandeverytimeIaskedaquestion.A、madeupB、putupC、r
______ofthestudentsinourclassarefromthenorth.A、TwoninthB、Secondnint
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
Manystudentsfindtheexperienceofattendinguniversitylecturestobeac
随机试题
WelcometotheChineseConsulate-GeneralinMelbourneforthe"ChineseCulture
Thisyoungman’sattractiontoMP3scannotbeexplainedonly______familiarity
YouDon’tHavetoBe18:GoingtoCollegeasanAdultA)Everysooft
A------pricetermJ------timeofshipmentB------costandfreightK------busine
【B1】[br]【B8】A、unless.B、ifC、asD、afterB连词辨析题。根据上文可知,小型汽车销售良好,因此如果把小型汽车市场考虑进来
主要用迟发性皮肤过敏试验诊断的原发性免疫缺陷病是A、吞噬细胞功能缺陷 B、固有
通常,将()所得分开有利于节省税款。 Ⅰ.工资 Ⅱ.薪金所得 Ⅲ.劳务报
《抗菌药物临床应用指导原则》属性是A:属于药品监督管理的政策性文件 B:本文件
在经济衰退和经济结构调整过程中,老赵所在的企业转产,老赵被迫下岗待业。为了解决全
商业银行是以信用为基础、以经营货币借贷和结算业务为主的高负债、高风险行业。商业银
最新回复
(
0
)