Concept explainers
Tofind: The correct option for the time taken to double John’s investment of
Answer to Problem 43E
The correct option is (D) that is the time taken to double John’s investment is
Explanation of Solution
Given information:John invests
Calculation:
Use the formula for value of investment compounded annually.
The value of the investment is equal to double the investment.
Substitute
Take logarithm on both sides of the equation.
The nearest value is 16.
Therefore, the correct option is (D) that is the time taken to double John’s investment is
Chapter 1 Solutions
Calculus: Graphical, Numerical, Algebraic
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