adiestratton adiestratton

13-03-2021
Mathematics

contestada

Suppose $500 is invested at 6% annual interest compounded twice a year. When will the investment be worth $1000.

Respuesta :

13-03-2021

Answer:

Step-by-step explanation:

[tex]V=P(1+r/c)^{(ct)}\\ \\ V=P(1+.06/2)^{(2t)}\\ \\ 1000=500(1.03)^{(2t)}\\ \\ (1.03)^{2t}=2\\ \\ 2t=ln2/(ln1.03)\\ \\ t=ln2/(2ln(1.03))\\ \\ t\approx 11.7 years[/tex]

Answer Link

Otras preguntas

Help integrate: cot^3(x)

What are some known examples of Density?

Read this excerpt from a research paper that argues that Charlotte Brontë was a pioneer of feminist literature. Which sentence is an example of evidence from a

Beginning in the fall of 1957. Which element is necessary to complete the sentence? independent clause subject subordinate clause predicate

True or false The first reform bill in England extended the franchise to the middle class but not to the working class.

A change in which property of light will have no effect on whether or not the photoelectric effect occurs

Simplify 2(x - 4) + 4(x + 2)

What does the term "McCarthyism" mean?

Which of these historians was one of the first to emphasize documented facts over unverifiable stories

Determine whether the stated conclusion is valid based on the given information. Explain your reasoning. Given: If a lawyer passes the bar exam, then he or she