Answered: Leah would like to double her $12,000…

Leah would like to double her $12,000 investment in 10 years. Assuming the interest is compounded daily, what interest rate, r, would she need to earn? Show your work.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.4: Series And Their Notations

Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...

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Leah would like to double her $12,000 investment in 10 years. Assuming the interest is compounded daily, what interest rate, r, would she need to earn?

Show your work.

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