*A=P(1+²)". Use the model A = Pe' or A= P1+ for 7 years. $8000 is invested at 4.5% interest compounded monthly. How long will it take for the investment to double? Round to the nearest tenth of a year. It will take approximately where A is the future value of P dollars invested at interest rater compounded continuously or n times per year years for the investment to double. X S
*A=P(1+²)". Use the model A = Pe' or A= P1+ for 7 years. $8000 is invested at 4.5% interest compounded monthly. How long will it take for the investment to double? Round to the nearest tenth of a year. It will take approximately where A is the future value of P dollars invested at interest rater compounded continuously or n times per year years for the investment to double. X S
Chapter10: Exponential And Logarithmic Functions
Section10.5: Solve Exponential And Logarithmic Equations
Problem 10.86TI: Rachel invests $15,000 at age 25. She hopes the investments will be worth when she turns 40. If the...
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Transcribed Image Text:nt
Use the model A = Pet or A = P
- P(1+²) ".
for t years.
where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year
$8000 is invested at 4.5% interest compounded monthly. How long will it take for the investment to double? Round to the nearest tenth of a year.
It will take approximately
years for the investment to double.
X
S
G
E
H
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