7. Abenah invests $15000 and gets an interest at a rate of 3.5%, compounded biweekly. a) Write an equation for the value of the investment as a function of time in years. b) How long will it take for the investment to equal $20000. c) How long will it take for the investment to double in value?

7. Abenah invests $15000 and gets an interest at a rate of 3.5%, compounded biweekly. a) Write an equation for the value of the investment as a function of time in years. b) How long will it take for the investment to equal $20000. c) How long will it take for the investment to double in value?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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