Math Problem Statement

Time and interest rate compound interest

Solution

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Math Problem Analysis

Mathematical Concepts

Compound Interest
Exponential Growth
Logarithms

Formulas

Compound Interest Formula: A = P(1 + r/n)^(nt)
Logarithmic Formula: log(A/P) = nt * log(1 + r/n)

Theorems

Compound Interest Theorem
Rule of 72 (for approximating doubling time)

Suitable Grade Level

Grades 10-12