Tatertat15 Tatertat15
  • 03-02-2017
  • Mathematics
contestada

How long will money in savings take to double at 5% interest compounded annually? Round the answer to the nearest hundredth of a year.

Respuesta :

Аноним Аноним
  • 03-02-2017
How long will money in savings take to double at 5% interest compounded annually?

A= p(1+r/n) ^nt
2 = (1.05)^t
log 2/log(1.05) = t
t = 14.21 yrs (to the nearest hundredth of a year)
Answer Link

Otras preguntas

Most Middle Eastern countries are highly dependent on food from abroad. a. True b. False
The wording of the Constitution is
n+-6=11 that's what I need to know
Solve for n. 3/4 x n = 1 Please help ASAP
What is the name of the body's largest artery?
Snapdragon plant with red flowers and white flowers that produces pink flowers, which condition does this illustrate
A positive charge is placed in an electric field that points west. What direction is the force on the positive particle? I think it is west right.
Which effect does the repetition of to have in the paragraphs that begin to those, for example? It creates a comical, singsong effect that brings out the humor
Which of the following is true about assessing muscular strength and endurance?
The type of training that requires the fewest number of repetitions is