14. If Tanisha opens an account with $5000 at an interest rate of 7% compounded weekly (Use 52 weeks/year). How long will it take for her account to be worth $20.0002

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
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Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 72RE
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Using the formula for compound interest
14. If Tanisha opens an account with $5000 at an interest rate of 7% compounded weekly (Use 52
weeks/year). How long will it take for her account to be worth $20,0002
15. Your parents plan to purchase a new car for you on your 16th birthday. They always pay cash
but they are good planners. The car costs $18,000. A long time ago, they deposited $6,000 in an
account that paid 8.5% interest. The account will have $18,000 in it by your birthday. How old
were you when they created the account?
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Transcribed Image Text:14. If Tanisha opens an account with $5000 at an interest rate of 7% compounded weekly (Use 52 weeks/year). How long will it take for her account to be worth $20,0002 15. Your parents plan to purchase a new car for you on your 16th birthday. They always pay cash but they are good planners. The car costs $18,000. A long time ago, they deposited $6,000 in an account that paid 8.5% interest. The account will have $18,000 in it by your birthday. How old were you when they created the account? Need help? Visit www.rsgsupport.org mathematics vision project C2019 Mathematics Vision Project gnits Reserved for the Additions and Enhancements mathenaticsvisionproject.org
NCTIONS-5.5
SET
Tou will need technology that calculates log, where b is any number.
Topic: Using the formula for compound interest
Recall the equation for compound interest you used in class today:
r nt
= P (1+)
A
11 Calculato the
Transcribed Image Text:NCTIONS-5.5 SET Tou will need technology that calculates log, where b is any number. Topic: Using the formula for compound interest Recall the equation for compound interest you used in class today: r nt = P (1+) A 11 Calculato the
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