Kristen invests money in a bank and makes no additional deposits or withdrawals. the bank pays 1.4% interest compounded annually. to the nearest tenth of a year, how long must she leave the money in the bank for it to double? solve algebraically.

approximately 50 years.

Step-by-step explanation:

Let $P represent the initial amount that she deposited. It means that principal,

P = $P

It was compounded annually. This means that it was compounded once in a year. So

n = 1

The rate at which the principal was compounded is 1.4%. So

r = 1.4/100 = 0.014

The formula for compound interest is

A = P(1+r/n)^nt

A = total amount in the account at the end of t years. For the initial amount to double, it means that

A = 2P

Therefore

2P = P (1+0.014/1)^1×t

2P/P = (1.014)^t

2 = (1.014)^t

Taking log to base 10 of both sides, it becomes

Log 2 = log 1.014^t

Log 2 = tlog 1.014

0.301 = 0.006t

t = 0.301/0.006 = 50.2 years

51.4 years

Step-by-step explanation:

There is what we call rule of 72 in Accounting to find the time  a sum of money will double if it is compounded annually at any given rate . The formula is given as :

t =

where t is the time and r is the rate.

t = ?

r = 1.4

Therefore :

t = 72/1.4

t = 51.4286

to the nearest tenth

t = 51. 4 years

he can buy 4lbs. of live bait and 1lbs of natural bait

step-by-step explanation:

45.36 feet per second.

step-by-step explanation:

to find the most accurate determination for the number of feet per second tyrone traveled on his way to work let us convert miles to feet and minutes to seconds.

1 mile = 5280 feet.

1 minute = 60 seconds.

now we will divide 158400 by 3492 to find the most accurate determination for the number of feet per second tyrone traveled on his way to work.

therefore, tyrone traveled on his way to work at the rate of 45.36 feet per second.