Suppose that you made this investment on the occasion of the birth of your daughter. Your plan is to leave the money in the account until she starts college at age 17. How large a college fund will she have? (Round your answer to the nearest cent.) $  (f) How long does it take your money to double in value? (Round your answer to two decimal places.)  months How much longer does it take it to double in value again? (Round your answer to two decimal places.)  months

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter19: Capital Investment
Section: Chapter Questions
Problem 8E
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Find an exponential model for the account balance. (Let t be the time in months and B the savings balance in dollars. Round your parameters to three decimal places.)


(e) Suppose that you made this investment on the occasion of the birth of your daughter. Your plan is to leave the money in the account until she starts college at age 17. How large a college fund will she have? (Round your answer to the nearest cent.)


(f) How long does it take your money to double in value? (Round your answer to two decimal places.)
 months

How much longer does it take it to double in value again? (Round your answer to two decimal places.)
 months

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