Explanation Given information: The initial investment is $2000, future value is double of the initial investment, time duration is 5 years and it is compounded annually. Formula used: The formula to calculate compound interest is, A = P ( 1 + r m ) m t Where, P is principal amount. r is interest rate. m is number of conversion per year. t is term (number of years). Calculation: The initial investment is $2000 that means the principal amount is $2000. The future value is double of the initial investment that means the future value is 2 × 2000 = 4000 The accumulated amount A is $4000. Here A is $4000, P is $2000, t is 5 years and m is 1 because it is compounded annually. To get the rate of interest, substitute 4000 for A , 2000 for P , 5 for t and 1 for m into the compound interest formula. A = P ( 1 + r m ) m t 4000 = 2000 ( 1 + r 1 ) 1 × 5 ( 1 + r ) 5 = 4000 2000 ( 1 + r ) 5 = 2 To further simplify the expression take the logarithm on each side

Applied Calculus for the Managerial, Life, and Social Sciences

10th Edition

ISBN: 9781305887831

Author: Tan

Publisher: CENGAGE CO

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Chapter 5.3, Problem 20E

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The rate of interest needs to get the given future value on an initial investment.

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Chapter 5.3, Problem 19E

Chapter 5.3, Problem 21E

Chapter 5 Solutions

Applied Calculus for the Managerial, Life, and Social Sciences

Ch. 5.1 - Prob. 1CQ Ch. 5.1 - Prob. 2CQ Ch. 5.1 - Prob. 1E Ch. 5.1 - Prob. 2E Ch. 5.1 - Prob. 3E Ch. 5.1 - Prob. 4E Ch. 5.1 - Prob. 5E Ch. 5.1 - Prob. 6E Ch. 5.1 - Prob. 7E Ch. 5.1 - Prob. 8E

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Prob. 24E Ch. 5.5 - Prob. 25E Ch. 5.5 - Prob. 26E Ch. 5.5 - Prob. 27E Ch. 5.5 - find the derivative of the function. 28...Ch. 5.5 - Prob. 29E Ch. 5.5 - Prob. 30E Ch. 5.5 - Prob. 31E Ch. 5.5 - Prob. 32E Ch. 5.5 - Prob. 33E Ch. 5.5 - Prob. 34E Ch. 5.5 - Prob. 35E Ch. 5.5 - Prob. 36E Ch. 5.5 - Prob. 37E Ch. 5.5 - Prob. 38E Ch. 5.5 - Prob. 39E Ch. 5.5 - Prob. 40E Ch. 5.5 - Prob. 41E Ch. 5.5 - Prob. 42E Ch. 5.5 - Prob. 43E Ch. 5.5 - Prob. 44E Ch. 5.5 - Prob. 45E Ch. 5.5 - Prob. 46E Ch. 5.5 - Prob. 47E Ch. 5.5 - Prob. 48E Ch. 5.5 - Prob. 49E Ch. 5.5 - Prob. 50E Ch. 5.5 - Prob. 51E Ch. 5.5 - Prob. 52E Ch. 5.5 - Prob. 53E Ch. 5.5 - Prob. 54E Ch. 5.5 - Prob. 55E Ch. 5.5 - Prob. 56E Ch. 5.5 - Prob. 57E Ch. 5.5 - Prob. 58E Ch. 5.5 - Prob. 59E Ch. 5.5 - Prob. 60E Ch. 5.5 - Prob. 61E Ch. 5.5 - Prob. 62E Ch. 5.5 - Prob. 63E Ch. 5.5 - Prob. 64E Ch. 5.5 - Prob. 65E Ch. 5.5 - Prob. 66E Ch. 5.5 - Prob. 67E Ch. 5.5 - Prob. 68E Ch. 5.5 - Prob. 69E Ch. 5.5 - Prob. 70E Ch. 5.5 - Prob. 71E Ch. 5.5 - Prob. 72E Ch. 5.5 - 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The rate of interest needs to get the given future value on an initial investment.

Solution Summary: The author explains that the rate of interest needs to get the given future value on an initial investment is approximately 14.87% per year.

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The rate of interest needs to get the given future value on an initial investment.

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