#3: Compound interest earns interest on interest.2000 is invested at 6.5% per year gives the function: P=(2000)(1+.065)tHow long will it take to double?

Given query is to find the time taken become the double of the investment.

Answered: #3: Compound interest earns interest on…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter7: Exponents And Exponential Functions

Section7.7: Writing Exponential Functions

Problem 31HP

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#3: Compound interest earns interest on interest. 2000 is invested at 6.5% per year gives the function: P=(2000)(1+.065)t How long will it take to double?