Homework Help is Here – Start Your Trial Now!
Math
Statistics
Question 21 How long would it take R20000 invested today at a simple interest rate of 9% p.a. to reach an investment goal of R30000. A Approximately 5.6 years B Approximately 6.1 years C Approximately 4.7 years D Approximately 5.1 years Question 22 How long would it take R20 000 invested today at a nominal annual continuously compounding (NACC) interest rate of 9% p.a. to reach an investment goal of R30 000. A Approximately 5.6 years B Approximately 4.7 years C Approximately 5.1 years D Approximately 4.3 years

Question 21 How long would it take R20000 invested today at a simple interest rate of 9% p.a. to reach an investment goal of R30000. A Approximately 5.6 years B Approximately 6.1 years C Approximately 4.7 years D Approximately 5.1 years Question 22 How long would it take R20 000 invested today at a nominal annual continuously compounding (NACC) interest rate of 9% p.a. to reach an investment goal of R30 000. A Approximately 5.6 years B Approximately 4.7 years C Approximately 5.1 years D Approximately 4.3 years

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 40E
See similar textbooks
icon
Related questions
Question
Question 21 How long would it take R20000 invested today at a simple interest rate of 9% p.a. to reach an investment goal of R30000. A Approximately 5.6 years B Approximately 6.1 years C Approximately 4.7 years D Approximately 5.1 years Question 22 How long would it take R20 000 invested today at a nominal annual continuously compounding (NACC) interest rate of 9% p.a. to reach an investment goal of R30 000. A Approximately 5.6 years B Approximately 4.7 years C Approximately 5.1 years D Approximately 4.3 years
Transcribed Image Text:Question 21 How long would it take R20000 invested today at a simple interest rate of 9% p.a. to reach an investment goal of R30000. A Approximately 5.6 years B Approximately 6.1 years C Approximately 4.7 years D Approximately 5.1 years Question 22 How long would it take R20 000 invested today at a nominal annual continuously compounding (NACC) interest rate of 9% p.a. to reach an investment goal of R30 000. A Approximately 5.6 years B Approximately 4.7 years C Approximately 5.1 years D Approximately 4.3 years
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
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
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS