Leo invests $P at a simple interest rate of 10% per year. Find the time it takes to double the value of Leo's original investment.
(isn't it 10 years?)
Question About Interest?
2009-08-19 1:53 pm
回答 (2)
2009-08-19 2:06 pm
That depends.
First i'm gonna assume that the money P in the next year will be 1.1P and the next (1.1)^2 P and in year y it would be (1.1)^y P so you must find the y where 1.1^y=2 .
(almost 7 years y=(Ln2)/(Ln1.1) or instead of Ln you can also use Log)
or perhaps they want you to write an exp function for the P (that depends to what level you are) which you can find the answer almost in every calculus textbook you find.
First i'm gonna assume that the money P in the next year will be 1.1P and the next (1.1)^2 P and in year y it would be (1.1)^y P so you must find the y where 1.1^y=2 .
(almost 7 years y=(Ln2)/(Ln1.1) or instead of Ln you can also use Log)
or perhaps they want you to write an exp function for the P (that depends to what level you are) which you can find the answer almost in every calculus textbook you find.
收錄日期: 2021-04-24 10:35:52
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20090819055334AAeM1iw