If Tanisha has $ 100 to invest at 9% per annum compounded monthly, how long will it be before she has $ 200? If the compounding is continuous, how long will it be? Compounding monthly, it will be about (Round to two decimal places as needed.) years before Tanisha has $ 200.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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If Tanisha has $ 100 to invest at 9% per annum compounded monthly, how long will it be before she has $ 200? If the compounding is continuous, how long will it be?
Compounding monthly, it will be about
(Round to two decimal places as needed.)
years before Tanisha has $ 200.
Transcribed Image Text:If Tanisha has $ 100 to invest at 9% per annum compounded monthly, how long will it be before she has $ 200? If the compounding is continuous, how long will it be? Compounding monthly, it will be about (Round to two decimal places as needed.) years before Tanisha has $ 200.
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