SOLUTION: Find how many years it takes $1800 to double at 3.2% interest compounded weekly.
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Question 869616: Find how many years it takes $1800 to double at 3.2% interest compounded weekly.
Show all steps.
Found 2 solutions by ewatrrr, stanbon:
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
In General
A = Accumulated Amount
P= principal = 1800
r= annual rate = .032
n= periods per year = 12
t= years =
= t
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find how many years it takes $1800 to double at 3.2% interest compounded weekly.
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Solve:
3600 = 1800(1+(0.032/52))^(52t)
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(1+0.000615)^52t = 2
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52t = log(2)/log(111.000615)
52t = 1127.42
t = 21.68 years
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Cheers,
Stan H.
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