Miguel plans on retiring in 16 years, and he wants to double his money by that time. He's contacted various banks, looking for a CD that compounds interest monthly, and to calculate what annual interest rate he needs, he is using the Rule of 72. Part I: What is the rule of 72? To represent the annual interest rate, use r.
Part II: What equation can Miguel set up to solve for the annual interest rate he needs to double his money by the time he retires?
Part III: What annual interest rate does Miguel need to double his money by the time he retires?

answer are

step-by-step explanation:

2/3x + 7 = 29

step-by-step explanation:

two thirds = 2/3

plus a number = x

at least 29 = 29

there for you should get 2/3x + 7 = 29

15% chance.

step-by-step explanation:

3/10 times, the 5 year old will get a tablet. 5/10 times, the 13 yer old will get a tablet. multiply both fractions to get 15/100 times, both would have a tablet.

, and

for

step-by-step explanation:

we can analyze the pattern at which the terms increase. let us denote , , , so that we can call

note the following:

the pattern: to get the next term value, we just add the next term number (e.g. 1st, 2nd, to the previous term value (term values are the given numbers in the question, 1, 3, 6, 10, 15,

from , to get to , we add

from , to get to , we add

etc.

we need to form a recursive formula, a formula that has the next term as a function of the previous term. so a possible recursive formula can be

, and for