answer
final amount =principal (1+ (interest rate/no. of period interest applied))no. of times interest applied x no. of times periods elapse
final amount (A)=$6
principal (P) =$1
interest rate (R) =13%=0.13
no. of period interst applied (N)=52
no. of times (t) = t
A= P(1+(R/N)Nt
6=1(1+(0.13/52))52t
6=(1+(0.13/52))52t
6=(1+0.0025)52t
6=1.002552t
using log on both sides
log1.0025(6)=52t
log 6/log 1.0025=52t (logab=log b/log a)
0.79/0.0011 = 52t
718.2 = 52t
t=13.8 years
it will take 13.8 years to get the investment sixfold
(Solving for n with non-annual periods) Approximately how many years would it take for an investment...
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