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Posted by on Thursday, February 19, 2009 at 9:32am.

find out how long it takes a $2700 investment to double if it is invested by 7% compounded semiannually. Round to the nearest tenth of a year . Use the formula A=P[1+r/n]^nt

  • math-help solve please - , Thursday, February 19, 2009 at 9:38am

    2=(1+.07/2)^2t
    log of both sides..
    log2=2t log(1+.035)

    can you do that? Solve for t?

  • math-help solve please - , Thursday, February 19, 2009 at 9:39am

    you want the $2700 to double, so A = 5400

    5400 = 2700(1 + .035)^(2t)
    2 = 1.035^(2t)

    I hope you know how to use logs and know the rules of log operations

    2t = log 2/log 1.035
    2t = 20.148
    t = 10.07
    = 10.1 to the nearest tenth

  • math-help solve please - , Thursday, February 19, 2009 at 9:55am

    how did you get (.035)

  • math-help solve please - , Thursday, February 19, 2009 at 10:12am

    seven percent/n= .07/2

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