Bailey O.
asked • 02/13/23What is the doubling time for the investment? Round answer to 1 decimal place.
The amount of money in an investment is modeled by the function A(T)=650(1.0455)^T. The variable A represents the investment balance in dollars, and T the number of years.
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1 Expert Answer
Raymond B. answered • 02/13/23
Tutor
5
(2)
Math, microeconomics or criminal justice
2=(1.0455)^T
log1.04552 = T
T=ln2/ln1.0455
=15.578 years= doubling time = about 15.6 years
1.0455^15.578 = 1.999999333...= about 2
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Peter R.
02/13/23