If an investment earns an APR of r, as a decimal, compounded annually, then the time...
If an investment earns an APR of r, as a decimal, compounded annually, then the time D, in years, required for the investment to double in value is given by
D =
| log(2) |
| log(1 + r) |
.
(a)
Find the doubling time (in years) for an investment subject to an APR of
6%
if interest is compounded annually. (Round your answer to two decimal places.)
yr
Homework Answers
![Griven D = log2 2 Logo+r) log2 2 a) when pz60% then Dz log (14) -> Dz 11.90 - The doubling time in is -|11.90] year.](http://img.homeworklib.com/questions/908c4300-0c8a-11eb-aaf2-69831d867a6d.png?x-oss-process=image/resize,w_560)
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