Open QuestionSolve each equation for the indicated variable. Use logarithms with the appropriate bases. See Example 10. A = P (1 + r/n)^(tn), for t
Open QuestionTo solve each problem, refer to the formulas for compound interest. A = P (1 + r/n)^(tn)and A = Pe^(rt)Find t, to the nearest hundredth of a year, if $1786 becomes $2063 at 2.6%, with interest compounded monthly.
Open QuestionTo solve each problem, refer to the formulas for compound interest. A = P (1 + r/n)^(tn)and A = Pe^(rt)At what interest rate, to the nearest hundredth of a percent, will $16,000 grow to $20,000 if invested for 7.25 yr and interest is compounded quarterly?