a.) The doubling time for an investment is 7.5 years. Find an exponential model for the growth
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Question:
- a.) The doubling time for an investment is 7.5 years. Find an exponential model for the growth of your money. Then find how long will take your investment to grow by factor of 5(Assume that you make an investment P)
- p(t)=p0e^rtn
- b.) How long will it take for $5500 to grow to $40,300 at an interest rate of 4.8% if the interest is compounded continuously? Round the number of years to the nearest hundredth. A= Pe^rt
Related Book For
Calculus Early Transcendentals
ISBN: 978-0321947345
2nd edition
Authors: William L. Briggs, Lyle Cochran, Bernard Gillett
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