Question: Use logarithms to solve the problem.How long will it take an investment of $10,000 to double if the investment earns interest at the rate of

Use logarithms to solve the problem.How long will it take an investment of $10,000 to double if the investment earns interest at the rate of 9% compounded continuously? (Round your answer to two decimal places.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

help please A MTH 110 HW #6 - Chapter 4 Sc x + - G webassign.net/web/Student/Assignment-Responses/last?dep=27672357 To # Update : 14. [-/1 Points] DETAILS TANAPMATH7 4.1.044. MY NOTES ASK YOUR...

Question 14 and 15 thank you Find the accumulated amount after 3 years if $5500 is invested at 2%/year compounded continuously. (Round your answer to the nearest cent.) $ Need Help? Read It 14. [-/1...

Name: ID: A 7. Skeletal remains ofthe so-called "Pittsburgh Man," unearthed inPennsylvania had los 81% of the car 14 they Hint. The decay constant k for carbon 14 is equal to 0.00012. a. The...

1) Find the present value of $60,000 due in 5 years at the given rate of interest. (Use a 365-day year. Round your answer to the nearest cent.) 7%/year compounded daily 2) Use logarithms to solve the...

Anthony invested a sum of money 5 years ago in a savings account that has since paid interest at the rate of 5%/year compounded quarterly. His investment is now worth $26,789.99. How much did he...

[-/5 Points] DETAILS TANAPMATH7 4.2.025. MY NOTES ASK YOUR TEACHER Lup made a down payment of $6000 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan...

1. [-70.09 Points] DETAILS TANAPMATH7 4.1.028. Find the present value of $90,000 due in 5 years at the given rate of interest. (Use a 365-day year. Round your answer to the nearest cent.) 5%/year...

= 4 6 7 1 8 9 = 10 Use the model A- Pe"' or A-P( 1+ " ) nt ,where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. $18,000 is...

Use logarithms to solve the problem. How long will it take $12,000 to grow to $17,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal...

= 1 = 2 = 3 = 4 =5 = 6 8 9 10 nt Use the model A = Pe" or A=P( 1+ n , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years....

As of Thursday's close, the volatility of Asset A is 2% per day and the volatility of Asset B is 1% per day. Also the covariance between assets is 0.0001. During Friday, asset A produces a return of...

When 23/10Ne (mass = 22.9945u) decays to 23/11Na (mass = 22.9898u), what is the maximum kinetic energy of the emitted electron? What is its minimum energy? What is the energy of the neutrino in each...

4 What information do run charts, multi-vari charts, and control charts provide in addition to that contained in a histogram that shows variability in process performance?

Wangshu puts $40000 in a savings account paying interest rate (2) = 8%. He withdraws the money after 34 months. How much money is in his account using a) the "Greedy Bank" method b) the "Practical"...