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Math Help - urgent! please help

  1. #1
    jimbox
    Guest

    urgent! please help

    an investor deposits 5000 in a savings account which gives a compound interest rate of 5.6%.
    i)calculate the value of the investment at the end of 2, 4, 6, 8 and 10 years and produce a graph of the value of the investment(A) (vertiacal axis) against time (years) (horizontal axis)

    (ii)using the graph, and proving by calculation, find how long it will take for the origional 5000 investment to double in value,

    I've tried and tried but can't work this out. I know i'm useless. need this for tmrw
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  2. #2
    MHF Contributor
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    Quote Originally Posted by jimbox View Post
    an investor deposits 5000 in a savings account which gives a compound interest rate of 5.6%.
    i)calculate the value of the investment at the end of 2, 4, 6, 8 and 10 years and produce a graph of the value of the investment(A) (vertiacal axis) against time (years) (horizontal axis)

    (ii)using the graph, and proving by calculation, find how long it will take for the origional 5000 investment to double in value,

    I've tried and tried but can't work this out. I know i'm useless. need this for tmrw
    You can't be struggling with this.

    5000*(1.056)^{2}

    5000*(1.056)^{4}

    5000*(1.056)^{6}

    5000*(1.056)^{8}

    5000*(1.056)^{10}

    5000*(1.056)^{x}\;=\;10000 Solve for x.

    Do we have to use "e"?

    Really, if you cannot do these problems, you need to have a serious chat with your academic advisor. It only gets harder from here.
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