SOLUTION: The amount of money in an investment is modeled by the function A(t)=600(1.054)^t. The variable A represents the investment balance in dollars, and t the number of years.
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Question 978545: The amount of money in an investment is modeled by the function A(t)=600(1.054)^t. The variable A represents the investment balance in dollars, and t the number of years.
What is the doubling time for the investment? Round answer to 1 decimal place.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The amount of money in an investment is modeled by the function A(t)=600(1.054)^t. The variable A represents the investment balance in dollars, and t the number of years.
What is the doubling time for the investment? Round answer to 1 decimal place.
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The investment has doubled when A(t) = 1200
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Solve::
2 = (1.054)^t
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t = log(2)/log(1.054)
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t = 13.2 years
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Cheers,
Stan H.
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