Two investments are made at the same time. The first consists of investing 1430 dollars at an annual rate of interest of 8.7 percent, compounded semiannually. The second consists of investing 1300 dollars at an annual rate of interest of 8.7 percent, compounded daily. How long will it take for the two investments to be worth exactly the same amount? (Assume compound interest at all times.) years. (Be sure to give several decimal places of accuracy!) Answer=
Two investments are made at the same time. The first consists of investing 1430 dollars at an annual rate of interest of 8.7 percent, compounded semiannually. The second consists of investing 1300 dollars at an annual rate of interest of 8.7 percent, compounded daily. How long will it take for the two investments to be worth exactly the same amount? (Assume compound interest at all times.) years. (Be sure to give several decimal places of accuracy!) Answer=
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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