Thursday

January 29, 2015

January 29, 2015

Posted by **Jannet** on Wednesday, February 29, 2012 at 3:35am.

I used A=Pe^rt to get the wrong answer 20 years. Don't understand what is wrong

Thanks

- Math -
**Steve**, Wednesday, February 29, 2012 at 12:27pm3P = Pe^.18t

3 = e^.18t

ln3 = .18t

1.0986 = .18t

t = 6.10

This makes sense, considering the rule of 72, which states that at r%, the amount doubles about every 72/r years.

So, we expect this to double every 4 years.

**Answer this Question**

**Related Questions**

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

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

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

Business Math - How long will it take a $400 investment to be worth $700 if it ...

Pre-Cal - This exercise is based on the following table, which lists interest ...

How long will it take the investment to double? - $3,600 is invested in an ...

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

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 ...

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