Davis decides to think about retirement and invests at the age of 30 . He invests $5,000 and hopes the investment will be worth $250,000 by the time he turns 70 . If the interest compounds continuously, approximately what rate of growth will he need to achieve his goal? Round to the nearest tenth of a percent.

Rate of growth he will need to achieve his goal is 9.8%

Step-by-step explanation:

Principal=$5,000

Time(t)=70-30=40 years

Period (n)=12 months

Interest rate (r)=?

A=$250,000

r=n{(A/P)^1/nt - 1}

=12{(250,000/5000)^1/12*40 - 1}

=12{(50)^1/480 - 1}

=12{(50)^0.0021 - 1}

=12(1.0083 - 1)

=12(0.0082)

=0.0984

r=0.0984*100

=9.84%

To the nearest tenth=9.8%

answer: a. 13/44

step-by-step explanation: judging by the information given to us, we are looking for experimental probability. we can see that 13 males have chosen chocolate ice cream. there are 44 ice creams in total (remember that the total is always the denominator). so our answer is 13/44.

30005

yes ok