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: Compound interest earns interest on interest. 2000 is invested at 6.5% per year gives the function: P=(2000)(1+.065)* How long will it take to double?

: Compound interest earns interest on interest. 2000 is invested at 6.5% per year gives the function: P=(2000)(1+.065)* How long will it take to double?

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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19639843 %3D #3: Compound interest earns interest on interest. 2000 is invested at 6.5% per year gives the function: P=(2000)(1+.065) How long will it take to double? # 4: On the day you were born your grandmother put $10,000 in a bank accou earned 5% interest per year. How much would you have on your 18th birthday turned 65?
Transcribed Image Text:19639843 %3D #3: Compound interest earns interest on interest. 2000 is invested at 6.5% per year gives the function: P=(2000)(1+.065) How long will it take to double? # 4: On the day you were born your grandmother put $10,000 in a bank accou earned 5% interest per year. How much would you have on your 18th birthday turned 65?
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