The time, t, in years for an amount increasing at a rate of r (in decimal form) to In 2 This is called the doubling time. Find the In (1+r) doubling time to the nearest tenth for an investment at an interest rate of 7% = 0.07. double is given by t= The doubling time is years. (Round to the nearest tenth of a year.)
The time, t, in years for an amount increasing at a rate of r (in decimal form) to In 2 This is called the doubling time. Find the In (1+r) doubling time to the nearest tenth for an investment at an interest rate of 7% = 0.07. double is given by t= The doubling time is years. (Round to the nearest tenth of a year.)
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Transcribed Image Text:The time, t, in years for an amount increasing at a rate of r (in decimal form) to
In 2
This is called the doubling time. Find the
doubling time to the nearest tenth for an investment at an interest rate of
7% = 0.07.
double is given by t =
In (1+r)
The doubling time is
years.
(Round to the nearest tenth of a year.)
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