Friday

March 27, 2015

March 27, 2015

Posted by **Jannet** on Wednesday, February 29, 2012 at 3:33am.

I got the answer 6.71 years, but it was wrong, using the A=Pe^rt

Thank you

- Business Math -
**Henry**, Thursday, March 1, 2012 at 4:03pmPt = Po*e^rt.

r = 12%/100% = 0.12 = APR expressed as a decimal.

t = Time in yrs.

Pt = 400*e^0.12t = 700.

e^0.12t = 700 / 400 = 1.75.

0.12t = 0.55962.(Hit Ln key).

t = 4.66 yrs.

OR

e^0.12t = 700 / 400 = 1.75.

Take Ln of both sides:

0.12t*Ln(e) = Ln1.75.

0.12t*1.0 = 0.55962.

t = 0.55962 / 0.12 = 4.66 yrs.

**Answer this Question**

**Related Questions**

Math - How long, to the nearest year, will it take an investment to triple if it...

business math - How long, to the nearest year, will it take an investment to ...

Pre-Cal - If the interest on a long-term Canadian(3/8%) investment is compounded...

Business math/Finite - How long to the nearest year, will it take an investment ...

Pre- Cal - How long, to the nearest year, will it take me to become a ...

math - Approximately how long will it take an investment of $300 to triple, if ...

math - Suppose that you have $12,500 to invest over a 4 year period. There are ...

Math - How long it will take for an investment of 2000 dollars to double in ...

math - How long it will take for an investment of 1000 dollars to double in ...

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