Explanation Given information: The given is below equation that represents the compound interest equation: A = P ( 1 + r n ) n t Where, A is Amount after compound interest . P is Principle amount invested . r is rate of interest . t is time . t is time . Given that the initial investment is $6000 and with growth rate of 6% compounded monthlyit will reach to $10000. Calculation: The given is below equation that represents the compound interest equation: A = P ( 1 + r n ) n t Where, A is Amount after compound interest . P is Principle amount invested . r is rate of interest . t is time . t is time . Given that the initial investment is $6000 and with growth rate of 6% compounded monthly it will reach to $10000

17th Edition

ISBN: 9780134650111

Author: Martin-Gay

Publisher: PEARSON

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Chapter 19, Problem 120R

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To find:the time during which the investment amount will reach to given values using mathematical methodologies.

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Chapter 19, Problem 119R

Chapter 19, Problem 121R

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Chapter 19 Solutions

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Ch. 19.1 - Prob. 1VRVC Ch. 19.1 - Prob. 2VRVC Ch. 19.1 - Prob. 3VRVC Ch. 19.1 - Prob. 4VRVC Ch. 19.1 - Prob. 5VRVC Ch. 19.1 - Prob. 6VRVC Ch. 19.1 - Prob. 1ES Ch. 19.1 - Prob. 2ES Ch. 19.1 - Prob. 3ES Ch. 19.1 - Prob. 4ES

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the time during which the investment amount will reach to given values using mathematical methodologies.

Solution Summary: The author calculates the time during which the investment amount will reach to given values using mathematical methodologies.

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To find:the time during which the investment amount will reach to given values using mathematical methodologies.

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Chapter 19 Solutions