An investment grows from $10,240 to $10,700.80 in one year. If the investment continues togrow at that rate, find the number of years it will take the investment to double.

Answered: Image /qna-images/answer/76990745-108e-4d10-bc34-766219238538.jpg

Answered: An investment grows from $10,240 to…

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter14: Sequences And Mathematical Induction

Section14.CT: Test

Problem 23CT

See similar textbooks

Similar questions

A car was valued at 38,000 in the year 2007. By 2013, the value had depreciated to 11,000 If the car’s valuecontinues to drop by the same percentage, what willit be worth by 2017 ?
What interest rate would you need to get to double an investment of 200 in eight years?
Alyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500. How much will the account be worth in 2025 if interest compounds monthly? How much more wouldshe make if interest compounded continuously?
You inherit one million dollars. You invest it all in three accounts for one year. The first account pays 3% compounded annually, the second account pays 4% compounded annually, and the third account pays 2% compounded annually. After one year, you earn $34,000 in interest. If you invest four times the money into the account that pays 3% compared to 2%, how much did you invest in each account?
Find an exponential equation that passes throughthe points (0,4) and (2,9).
A scientist begins with 100 milligrams of aradioactive substance that decays exponentially. After 35 hours, 50 mg of the substance remains. How manymilligrams will remain after 54 hours?
The volume of a gas in a container varies inversely as the pressure on the gas. If a container of argon has a volume of 336 cubic inches under a pressure of 2,500 psi, what will be its volume if the pressure is decreased to 2,000 psi?
Explain why the values of an increasing exponentialfunction will eventually overtake the valuesof anincreasing linear function.
Solve each problem. Evaporation How many liters of water must evaporate to turn 12 liters of a 24 salt solution into a 36 solution?

Recommended textbooks for you

Algebra for College Students

Algebra

ISBN:

9781285195780

Author:

Jerome E. Kaufmann, Karen L. Schwitters

Publisher:

Cengage Learning

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

Elementary Algebra

Algebra

ISBN:

9780998625713

Author:

Lynn Marecek, MaryAnne Anthony-Smith

Publisher:

OpenStax - Rice University

Algebra for College Students

Algebra

ISBN:

9781285195780

Author:

Jerome E. Kaufmann, Karen L. Schwitters

Publisher:

Cengage Learning

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

Elementary Algebra

Algebra

ISBN:

9780998625713

Author:

Lynn Marecek, MaryAnne Anthony-Smith

Publisher:

OpenStax - Rice University

Intermediate Algebra

Algebra

ISBN:

9781285195728

Author:

Jerome E. Kaufmann, Karen L. Schwitters

Publisher:

Cengage Learning

Algebra & Trigonometry with Analytic Geometry

Algebra

ISBN:

9781133382119

Author:

Swokowski

Publisher:

Cengage

College Algebra (MindTap Course List)

Algebra

ISBN:

9781305652231

Author:

R. David Gustafson, Jeff Hughes

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

An investment grows from $10,240 to $10,700.80 in one year. If the investment continues to grow at that rate, find the number of years it will take the investment to double.