Sean M.
asked • 10/20/20How long will it take money to quadruple if it is invested at the following rates? (A) 5.2% compounded weekly (B) 6.5% compounded
How long will it take money to quadruple if it is invested at the following rates?
(A) 5.2% compounded weekly
(B) 6.5% compounded
A) _____ YEARS (Round to two decimal places as needed)
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1 Expert Answer
Mark M. answered • 10/20/20
Tutor
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Mathematics Teacher - NCLB Highly Qualified
(A)
4 = (1 + 0.052/52)52t
4 = (1.001)52t
ln 4 = 52t ln 1.001)
Can you solve for t and answer?
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Mark M.
B is missing the term of the investment.10/20/20