Write an equation that models the growth of an investment of P dollards compounded monthy.
What is the time required to double an investment of P in 10 years in the model above if the interest rate is 5%?
Write an equation that modesl the present value of B dollars at some time in the future.
Find the principal P needed to invest today to get 10,000,000.00 in 20
years, if P is to be invested at an interest rate r=.05 compounded
monthy.
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