SOLUTION: a loan of $12,000 is made at 14%interest compounded annually,after t years the amount due,A is given by the function A(t)=12,000(1.14)^t
find the doubling time.
Algebra.Com
Question 235819: a loan of $12,000 is made at 14%interest compounded annually,after t years the amount due,A is given by the function A(t)=12,000(1.14)^t
find the doubling time.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
n=in2/in(1+i)
n=.301/.0569
n=5.29 yrs
RELATED QUESTIONS
A college loan of $44,000 is made at 3% interest, compounded annually. After t years, the (answered by nerdybill)
A college loan of $30,000 is made at 8% interest compounded annually. After t years,the... (answered by josmiceli)
A loan of $48,000 is made at 8.75% interest, compounded annually. After how many years... (answered by ikleyn)
A loan of $48,000 is made at 8.75% interest, compounded annually. After how many years... (answered by ikleyn)
A loan of $45,000 is made at 5.5% interest, compounded annually. After how many years... (answered by math_tutor2020,ikleyn)
A loan of $13,000 is made at 4.25% interest, compounded annually. After how many years... (answered by Chipmonkcheeks)
A loan of $40,000 is made at 4.75% interest , compounded annually after how many years... (answered by lwsshak3)
A loan of 26000 is made at 3.5% interest, compounded annually. After how many years will... (answered by greenestamps)
Can someone help me with this.
a loan of $26,000 is made at 6% interest, compounded... (answered by lwsshak3)