Math Problem Statement

How long will it take money to quadruplequadruple if it is invested at the following​ rates? ​(A) 6.56.5​% compounded semiannuallysemiannually ​(B) 9.59.5​% compounded semiannuallysemiannually

Solution

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Math Problem Analysis

Mathematical Concepts

Compound Interest
Exponential Growth
Logarithms

Formulas

A = P(1 + r/n)^(nt)
t = ln(4) / [n * ln(1 + r/n)]

Theorems

Compound Interest Formula
Logarithmic Transformation

Suitable Grade Level

Grades 10-12