The time required to double the amount of an investment at an interest rate r co

Algebra
Tutor: None Selected Time limit: 1 Day

t = 

ln 2
r
.
Find the time required to double an investment at 3%4%, and 5%. (Round your answers to one decimal place.)
3% interest     yr
4% interest     yr
5% interest     yr
Apr 8th, 2015

(1+r)n =2

n ln (1+r) = ln(2)

n = ln (2)/ln(1+r)

rate Years
0.03 23.44977 
0.04 17.67299
0.05 14.2067

3%              23.4 years

4%              17.7 years

5%             14.2 years

Apr 8th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Apr 8th, 2015
...
Apr 8th, 2015
Dec 8th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer