Use the formula 2 = = (1 + nt 100n to find the doubling time t, in years, for an investment at r% compounded n times per year. Write this exponential statement in logarithmic form for an investment at 7% compounded quarterly. t = Use a change-of-base formula to find the doubling time (in years) for this investment. (Round your answer to two decimal places.) t = yr

Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Use the formula
2 =
-(1+
1000)
nt
to find the doubling time t, in years, for an investment at r% compounded n times per year.
Write this exponential statement in logarithmic form for an investment at 7% compounded quarterly.
t=
Use a change-of-base formula to find the doubling time (in years) for this investment. (Round your answer to two decimal places.)
t
yr
Transcribed Image Text:Use the formula 2 = -(1+ 1000) nt to find the doubling time t, in years, for an investment at r% compounded n times per year. Write this exponential statement in logarithmic form for an investment at 7% compounded quarterly. t= Use a change-of-base formula to find the doubling time (in years) for this investment. (Round your answer to two decimal places.) t yr
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