If Tanisha has $ 100 to invest at 9% per annum compounded monthly, how long will it be before she has $ 200? If the compounding is continuous, how long will it be? Compounding monthly, it will be about (Round to two decimal places as needed.) years before Tanisha has $ 200.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
icon
Related questions
Question
If Tanisha has $ 100 to invest at 9% per annum compounded monthly, how long will it be before she has $ 200? If the compounding is continuous, how long will it be?
Compounding monthly, it will be about
(Round to two decimal places as needed.)
years before Tanisha has $ 200.
Transcribed Image Text:If Tanisha has $ 100 to invest at 9% per annum compounded monthly, how long will it be before she has $ 200? If the compounding is continuous, how long will it be? Compounding monthly, it will be about (Round to two decimal places as needed.) years before Tanisha has $ 200.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning