SOLUTION: The time it takes to double the balance in an account varies inversely with the intrest rate. If you invest $1000 at 6% it will take 12 years to double your money. Find the time it
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-> SOLUTION: The time it takes to double the balance in an account varies inversely with the intrest rate. If you invest $1000 at 6% it will take 12 years to double your money. Find the time it
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Question 982542: The time it takes to double the balance in an account varies inversely with the intrest rate. If you invest $1000 at 6% it will take 12 years to double your money. Find the time it will take to double your money at 4%. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! The time it takes to double the balance in an account varies inversely with the interest rate.
If you invest $1000 at 6% it will take 12 years to double your money.
Find the time it will take to double your money at 4%.
:
let t = time to double at 4%
:
An inverse relationship equation between the interest and the time to double =
cross multiply
4t = 12 * 6
4t = 72
t = 72/4
t = 18 yrs to double at 4%
