Tuesday

October 21, 2014

October 21, 2014

Posted by **Hannah** on Tuesday, February 9, 2010 at 3:50pm.

annual % rate = ?

time to double = ?

amount after 10 years = $19,205.00

19,205 = 600e^(10r)

I do not know how to solve for r of find the time to double.

- (Please help) Math -
**drwls**, Tuesday, February 9, 2010 at 4:33pmThat looks like a misprint, but if the investment really increased that fast,

19,205 = 600 (1 + r)^10

10 ln (1+r) = ln (19,205/600) = ln 32.0

= 3.4657

ln (1+r) = 0.34657

1+r = 1.414

r = 41.4%

The time to double is 2.0 years

**Answer this Question**

**Related Questions**

math - 1) initial investment = $600 annual % rate = ? time to double = ? amount...

math(Please please help!!!) - 1) initial investment = $600 annual % rate = ? ...

math - Complete the table for a savings account in which interest is compounded ...

compound interest - How do I solve these problems? Complete the table for a ...

math - Initial Investment?? Annual % Rate= 8 Time to Double?? Amount after 10 ...

math - What is the time to double when the initial investment is $1000 and the ...

exponential function - An investment pays 8% interest, compounded annually. a) ...

Retirement - 1. I would like to retire in 42 years at the age of 65. The average...

algebra - Hannah invests $3850 dollars at an annual rate of 6% compounded ...

calculus - Assume the initial investment was $6600 and the annual interest rate ...