what sum of money must be invested at 7.3% interest compounded continuously to yield $20,000 in 12 years

how long will it take for the investment to triple in value

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- Dec 21st 2009, 02:52 PMmath321compounded interest
what sum of money must be invested at 7.3% interest compounded continuously to yield $20,000 in 12 years

how long will it take for the investment to triple in value

- Dec 21st 2009, 02:58 PMpickslides

Find P.

After this find t for - Dec 21st 2009, 04:24 PMmath321
i found P and after that i multiplied it by 3 and solved for t and ended up with a negative number am i suppose to get a negative number because t is years

- Dec 21st 2009, 04:31 PMpickslides

Now solve for where

Is this what you found?

__Spoiler__: - Dec 21st 2009, 04:33 PMskeeter
- Dec 21st 2009, 05:38 PMmath321
this is wat i did

this is how i managed to get a negative number

- Dec 21st 2009, 05:52 PMskeeter
first, the original investment is .

now, read the original question again ...

Quote:

what sum of money must be invested at 7.3% interest compounded continuously to yield $20,000 in 12 years

how long will it take for the**investment to triple**in value

once again, note that the value of P will cancel, leaving you with the equation - Dec 21st 2009, 05:54 PMmath321
or i now see

wat i did wrong

when im finish ill get back to you to see if it is correct - Dec 21st 2009, 06:20 PMmath321
for my final answer i got 15.05 years

- Dec 22nd 2009, 05:50 AMHallsofIvy
- Dec 22nd 2009, 06:17 AMskeeter
who knows?

the OP has been bouncing back and forth between sites to find a solution ...

S.O.S. Mathematics CyberBoard :: View topic - compounded interest - Dec 22nd 2009, 08:56 PMmath321logs problem
log2 (x+1) + log2 (x-1) = 3 ..... log to base 2

- Dec 22nd 2009, 09:02 PMpickslides
This should be posted in a separate thread

When adding logs you can mulitply

expand and solve... - Dec 23rd 2009, 08:30 AMJameson