Friday

October 24, 2014

October 24, 2014

Posted by **Amber** on Monday, April 1, 2013 at 12:34am.

- Math -
**Henry**, Tuesday, April 2, 2013 at 8:39pmP = Po(1+r)^n.

r = (6%/4)/100% = 0.015 = Quarterly %

rate expressed as a decimal.

n = 4comp/yr * t = 4t.

P = 100(1.015)^4t = 200

(1.015)^4t = 200/100 = 2.00

4t*Log1.015 = Log2

4t = Log2/Log1.015 = 46.556

t = 11.64 Yrs.

**Answer this Question**

**Related Questions**

Alg 2 - Suppose you deposit a principal amount of p dollars in a bank account ...

Alg2 - Help....Help... Suppose you deposit a principal amount of p dollars in a ...

algebra - If x dollars is deposited every four weeks (13 times a year) into an ...

Compound interest - Hello My teacher skipped over this and I have no clue how to...

pre algebra - At the beginning of the year 2000, Bob put $100 in a savings ...

math - You receive $12,000 and looking for a bank to deposit the funds. Bank A ...

math - You receive $12,000 and looking for a bank to deposit the funds. Bank A ...

Finance - You receive $12,000 and looking for a bank to deposit the funds. Bank ...

Finance - You receive $12,000 and looking for a bank to deposit the funds. Bank ...

Math - If 3000 dollars is invested in a bank account at an interest rate of 6 ...