Check your doubling and tripling time by substituting the values of t in your explicit formula. What relationship should exists between?

Posted on 2016-04-13 18:36:00 in Math by JONATHAN

Jonathan deposits $2000 into a bank account that pays 7 percent annual interest compounded annually. This means the bank pays him 7 percent of his account balance as interest at the end of each year, and he leaves the original amount and the interest in the account. 


Question I need help with:Check your doubling and tripling time (from Question 8) by substituting the values of t in your explicit formula. What relationship should exists between the values? 

explicit formula=A=2000(1.07)^t 

question 8: 
Approximately how many years will it take the original deposit to double in value? When will the original deposit triple in value? Use your calculator to compute each year-end balance recursively with the formula you wrote in the previous question. Include each calculation.

---

Answer Comment

No Answers Posted Yet.