Question
Use logarithms to solve the following problems 1. How long will it take $12,000 to grow...
Use logarithms to solve the following problems
1. How long will it take $12,000 to grow to $18,000 if the investment earns interest at the rate of 2%/year compounded monthly?
2. Find the interest rate needed for an investment of $4200 to double in 6 years if interest is compounded continuously
3. How long will it take an investment of $7,000 to double if the investment earns interest at the rate of 5% compounded continuously?
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