Homework Help is Here – Start Your Trial Now!
Math
Calculus
Find the time necessary for $1800 to double if it is invested at a rate of r = 8.5% compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.) (a) annually (b) monthly (c) daily yr yr yr

Find the time necessary for $1800 to double if it is invested at a rate of r = 8.5% compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.) (a) annually (b) monthly (c) daily yr yr yr

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
See similar textbooks
icon
Related questions
Question

I need help with this problem

Find the time necessary for $1800 to double if it is invested at a rate of r = 8.5% compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.) (a) annually (b) monthly (c) daily yr yr yr (d) continuously yr
Transcribed Image Text:Find the time necessary for $1800 to double if it is invested at a rate of r = 8.5% compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.) (a) annually (b) monthly (c) daily yr yr yr (d) continuously yr
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 5 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
SEE MORE TEXTBOOKS