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QUESTION 5 51 Suppose that an amount of R5000 is invested for 3 years Interest is compounded monthly The annual interest rate is 12% Write
QUESTION 5 51 Suppose that an amount of R5000 is invested for 3 years Interest is compounded monthly The annual interest rate is 12% Write down an expression that represents the amount the investment will be worth after 3 years Simplify the expression as far as possible without a calculator 52 How long will it take the initial investment to double in value under the investment conditions in 51? Leave the answer, simplified as far as possible, in terms of a logarithm [8]
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