Johan invests $4,000 at age 22 from the signing bonus of his new job. He hopes the investment will be worth $240,000 when he turns 66. 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.

The interest rate needs to be 9.8% for the sum of $4000 to compound to $240,000

Step-by-step explanation:

Since the interest compounds itself, hence the question concerns the compound interest.

Details provided-

Principal (Initial contribution)- $ 4000

Amount (Expected amount)- $ 240,000

Time period- investment started at 22 years and would continue until 66 years.

Time period= 66-22 years= 44 years

Rate of interest=

We know that for compound interest-

⇒Amount= principal (1+rate/100)ⁿ

Substituting the values if Amount, principal and time ("n") in the above equation

240,000= 4000 (1+rate/100) ⁴⁴

240,000/4000= (1+rate/100) ⁴⁴

Solving the above equation would yield us with the rate as 9.75% ≈ 9.8% (rounded off to tenth place after decimal)

Hence the Interest rate required by John would be 9.8%

x = -4

step-by-step explanation:

- 20 - 4(x + 3) = 4x

=> -20 - 4x - 12 = 4x

=> - 32 -4x = 4x

=> -32 = 4x + 4x

=> - 32 = 8x

=> -32/8 = x

=> -4 = x

the radius is 2 times the diameter.

step-by-step explanation: