RASEA23 RASEA23

30-05-2018
Mathematics

contestada

50 POINTS!
EXPLANATION NEEDED!
ALGEBRA 2
How long will it take for $10,000 to double with12% interest?
Formula: A=Pe^rt

Respuesta :

philipscaster83 philipscaster83

30-05-2018

To double the principle the formula is
2p=p e^rt
2=e^rt
2=e^0.12t
Solve for t
T=(log(2)÷log(e))÷0.12
T=5.78 years

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