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Title: Assume that $5000 can be invested at a rate of 5%/a compound monthly. Determ.... Post by: fosmanali01 on Jun 2, 2014 Assume that $5000 can be invested at a rate of 5%/a compound monthly.
a. Determine the length of the investment after 6 years. b. Determine the length of time, to the nearest year, required for the investment to triple in value. Hint for a. Use A = A0 ( l + i )^n where i is the compounded interest per month and n is the number of compounding periods. Hint for b. A0 = 5 000 A = 15 000 Use logarithms to solve. Thank you for helping Title: Re: Assume that $5000 can be invested at a rate of 5%/a compound monthly. Determ.... Post by: bio_man on Jun 2, 2014 Hey, thanks for the math question. Hope this helps...
Title: Re: Assume that $5000 can be invested at a rate of 5%/a compound monthly. Determ.... Post by: fosmanali01 on Jun 2, 2014 Thank you bio_man.
Any help on how b. is done? Title: Re: Assume that $5000 can be invested at a rate of 5%/a compound monthly. Determ.... Post by: bio_man on Jun 2, 2014 Totally missed that, yes, here it is:
Title: Re: Assume that $5000 can be invested at a rate of 5%/a compound monthly. Determ.... Post by: fosmanali01 on Jun 3, 2014 Thank you bio_man !
Title: Re: Assume that $5000 can be invested at a rate of 5%/a compound monthly. Determ.... Post by: bio_man on Jun 3, 2014 Pleasure, but keep the math questions flowing... we need more mathematics questions on this forum.
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