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12. Suppose you invest $800 at 6.7% a year, compounded annually. After n years, the amount of the investment is given by A = 800(1.067)*. Write an equation that can be used to determine how long it takes for the investment to grow to $1600.

12. Suppose you invest $800 at 6.7% a year, compounded annually. After n years, the amount of the investment is given by A = 800(1.067)*. Write an equation that can be used to determine how long it takes for the investment to grow to $1600.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Determine the speed of an object dropped from rest that falls 18 m. 12. Suppose you invest $800 at 6.7% a year, compounded annually. After n years, the amount of the investment is given by A = 800(1.067)*. Write an equation that can be used to determine how long it takes for the investment to grow to $1600. 13. Determine i, the interest rate per compounding period as a decimal, and n, the number of compounding periods for the annuity.
Transcribed Image Text:Determine the speed of an object dropped from rest that falls 18 m. 12. Suppose you invest $800 at 6.7% a year, compounded annually. After n years, the amount of the investment is given by A = 800(1.067)*. Write an equation that can be used to determine how long it takes for the investment to grow to $1600. 13. Determine i, the interest rate per compounding period as a decimal, and n, the number of compounding periods for the annuity.
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