Monday

July 28, 2014

July 28, 2014

Posted by **Annie** on Tuesday, January 10, 2012 at 6:36pm.

- Math -
**Reiny**, Tuesday, January 10, 2012 at 6:53pmlet the number of months be n

i = .072/12 = .006

15000(1.006)^n = 34000

1.006^n = 2.266666...

log 1.006^n = log 2.66666..

n log 1.006 = log 2.26666...

n = log 2.266666.../log 1.006

= 136.79 or 137 months

= 11 years and 5 months

**Related Questions**

Math - Chris invests $10 000 at 7.2%/a compounded monthly. How long will it take...

MAAAATTTTHHHHHH - Franco invests some money at 6.9%/a compounded annually and ...

Math Finite - How many years will it take for $12,000 to grow to $15,000 at 5.75...

math - The Investment Problem. Suppose that Rod invests $1,000 at 6% compounded ...

Math - A couple needs $15,000 as a down payment for a home. If they invest the $...

algebra - How long, to the nearest day, will it take $25,000 to grow to $500000...

Algebra - Greta invests $10,000 in an investment that pays 3% interest, ...

finance - Today, Mark invested $5,000 into an account that guarantees 7.50% p.a...

finance - Today, Mark invested $5,000 into an account that guarantees 7.50% p.a...

matttth help please - 1. Mike wants to invest money every month for 40 years. ...