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An investment grows according to the formula B = 8000 x 1.0065* dollars, where t is time, measured in months. In parts (b) and (c), round your answer to the nearest whole month. (a) What was the initial balance of the investment? $ (b) How many months does it take for the balance to double? months

An investment grows according to the formula B = 8000 x 1.0065* dollars, where t is time, measured in months. In parts (b) and (c), round your answer to the nearest whole month. (a) What was the initial balance of the investment? $ (b) How many months does it take for the balance to double? months

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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An investment grows according to the formula,where t is time, measured in months.

An investment grows according to the formula B = 8000 x 1.0065* dollars, where t is time, measured in months. In parts (b) and (c), round your answer to the nearest whole month. (a) What was the initial balance of the investment? $ (b) How many months does it take for the balance to double? months
Transcribed Image Text:An investment grows according to the formula B = 8000 x 1.0065* dollars, where t is time, measured in months. In parts (b) and (c), round your answer to the nearest whole month. (a) What was the initial balance of the investment? $ (b) How many months does it take for the balance to double? months
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