Pre-Calc/Chapter 3: Exponential and Log Functions/3.6 Mathematics of Finance Determine the doubling time of the investment.$14,500 at 7% compounded monthly Determine the doubling time of the investment.

$14,500 at 7% compounded monthly]]> 1.0000000 0.3333333 0 true true abc 7.94 years Incorrect 14.9 years Incorrect 9.93 years Correct 19.86 years Incorrect Find the amount accumulated after investing a principal P for t years at an ... Find the amount accumulated after investing a principal P for t years at an interest rate r.

P = $14,000, t = 9, r = 12%, compounded semiannually (k = 2)]]> 1.0000000 0.3333333 0 true true abc $37,698.82 Incorrect $38,823.10 Incorrect $25,960.75 Incorrect $39,960.75 Correct Solve the problem.Find the annual percentage yield if the interest rate is 6.... Solve the problem.

Find the annual percentage yield if the interest rate is 6.0% and interest is compounded daily (n = 365).]]> 1.0000000 0.3333333 0 true true abc 5.93% Incorrect 6.68% Incorrect 6.18% Correct 6.43% Incorrect Solve the problem.Find the interest rate necessary for a present value of ... Solve the problem.

Find the interest rate necessary for a present value of $15,458 to grow to a future value of $18,111.51 if interest is compounded quarterly for two years.]]> 1.0000000 0.3333333 0 true true abc 8% Correct 12% Incorrect 10% Incorrect 6% Incorrect Solve the problem.How long must $6000 be in a bank at 7% compounded annually ... Solve the problem.

How long must $6000 be in a bank at 7% compounded annually to become $11,802.91? (Round to the nearest year.)]]> 1.0000000 0.3333333 0 true true abc 9 yr Incorrect 12 yr Incorrect 11 yr Incorrect 10 yr Correct