Some investors want to know the "doubling time" of an investment—that is, the amount of time it will take for the investment to grow to twice its initial value. Suppose the value of an investment in an account earning an annual interest rate of 12% compounded daily grows according to the equation A = A0 1 + 0.12 365 365t , where A0 is the initial value of the investment and t is the time in years. Find the doubling time for the investment. Round to the nearest year.t = yr
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Some investors want to know the "doubling time" of an investment—that is, the amount of time it will take for the investment to grow to twice its initial value. Suppose the value of an investment in an account earning an annual interest rate of 12% compounded daily grows according to the equation
| 0.12 |
| 365 |
| 365t | |
where
is the initial value of the investment and t is the time in years. Find the doubling time for the investment. Round to the nearest year.
t = yr
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
