The time t (in years) for an investment to double is where r is the annual yield
Question:
The time t (in years) for an investment to double is
where r is the annual yield rate. How long does it take an investment to double if r =
(a) 3.00%,
(b) 6.00%,
(c) 9.00%?
Transcribed Image Text:
In 2 In(1 + r)
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We can plug in the given values of r into the formula and solve for t a ...View the full answer
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Related Book For
Basic Technical Mathematics
ISBN: 9780137529896
12th Edition
Authors: Allyn J. Washington, Richard Evans
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