1479186325
  • 1479186325
This problem is Simple Interest. How long will it take for $6,500 to double at a simple interest rate of 7%? Round to the nearest tenth of a year.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
First you want to do $6,500 times 7%. What do you get?
anonymous
  • anonymous
You would actually do $6,500 times 2 first
1479186325
  • 1479186325
Than I would multiply that by 7%?

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More answers

anonymous
  • anonymous
So do 6,500 times 2
1479186325
  • 1479186325
13000 times .07, right? .07 is 7%
anonymous
  • anonymous
What you want to do is 6,500 times .07. Don't times .07 to 13000
1479186325
  • 1479186325
You said times 6500 to 2, which is 13000.
anonymous
  • anonymous
yeah
anonymous
  • anonymous
Now times 6,500 by .07
1479186325
  • 1479186325
that's 455
anonymous
  • anonymous
I'm sorry. that was wrong
anonymous
  • anonymous
Do 13,000 divided by 455
1479186325
  • 1479186325
okay, it's 28.57, which it says round to the nearest tenth, so, it will be 28.6
anonymous
  • anonymous
yep
1479186325
  • 1479186325
That's the answer?
anonymous
  • anonymous
its actually 10.3
1479186325
  • 1479186325
How'd did you get that?
anonymous
  • anonymous
let me double check with my dad
1479186325
  • 1479186325
Okay
anonymous
  • anonymous
There is a rule called the rule of 72. What you do is in this case, do 72 divided by 7. What do you get?
1479186325
  • 1479186325
10.28
anonymous
  • anonymous
Correct.
anonymous
  • anonymous
So 10.28 is your answer
1479186325
  • 1479186325
It's still confusing me, but thanks for the help
anonymous
  • anonymous
Your welcome. Look up the rule of 72. That might help you a little more. :)

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