Suppose you invest $1000 at 10% interest compounded every year. a) how long will it be until your balance is $3000? b)Find the tripling time when the interest rate is 5%?
Suppose you invest $1000 at 10% interest compounded every year. a) how long will it be until your balance is $3000? b)Find the tripling time when the interest rate is 5%?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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Suppose you invest $1000 at 10% interest compounded every year.
a) how long will it be until your balance is $3000?
b)Find the tripling time when the interest rate is 5%?
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