Mia opened up a compounded daily interest account that paid 8.73% annual interest. How many years will it take to double their initial deposit? Round your answer to the nearest hundredth of a year. Do not input "year". Example 14.32 The following is the Doubling Timo function

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...
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7:44 1
<
8+
Mia opened up a compounded daily
interest account that paid 8.73% annual
interest.
How many years will it take to double their
initial deposit?
Round your answer to the nearest
hundredth of a year. Do not input "year".
Example 14.32
The following is the Doubling Time function
where:
r is the annual interest rate,
n is the number of compounding
times per year
Transcribed Image Text:7:44 1 < 8+ Mia opened up a compounded daily interest account that paid 8.73% annual interest. How many years will it take to double their initial deposit? Round your answer to the nearest hundredth of a year. Do not input "year". Example 14.32 The following is the Doubling Time function where: r is the annual interest rate, n is the number of compounding times per year
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