Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
Poffdiddy
Group Title
A college studen invests $11,000 in an account paying 8% per year compounded annually. In how many years will the amount quadruple?
 3 years ago
 3 years ago
Poffdiddy Group Title
A college studen invests $11,000 in an account paying 8% per year compounded annually. In how many years will the amount quadruple?
 3 years ago
 3 years ago

This Question is Closed

101Ryan101 Group TitleBest ResponseYou've already chosen the best response.0
11,000(1+.08)^t = 33,000 solve for t
 3 years ago

Poffdiddy Group TitleBest ResponseYou've already chosen the best response.1
I don't understand how to solve for t when it's up in a power?
 3 years ago

spleentiedye Group TitleBest ResponseYou've already chosen the best response.0
5 years
 3 years ago

Poffdiddy Group TitleBest ResponseYou've already chosen the best response.1
I got 14 years...
 3 years ago

Poffdiddy Group TitleBest ResponseYou've already chosen the best response.1
Well, this is what I did. 11000(1.08)^t=33000. 3=(1.08)^t log3=log(1.08) t=log(3)/log(1.08) t=14.274
 3 years ago

JMonstur Group TitleBest ResponseYou've already chosen the best response.0
Aha I might be wrong but I got 7.53 years.
 3 years ago

Poffdiddy Group TitleBest ResponseYou've already chosen the best response.1
How'd you get 7.53?!
 3 years ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.