Ask your own question, for FREE!
Mathematics 12 Online
OpenStudy (anonymous):

i invest $1000 in an account earning 6% compounded annually. how long will it take for the value to reach $1500? Im close but not sure..

OpenStudy (anonymous):

\[1000\times1.06^t=1500=>1.06^t=3/2=>t=\log_{1.06}3/2=6.95\]So it takes seven years.

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Latest Questions
Arriyanalol: i need help
1 day ago 7 Replies 1 Medal
Arriyanalol: CONGRATS to me
1 day ago 8 Replies 2 Medals
Legomaster346: What colleges are good that are near Arab Alabama?
1 week ago 5 Replies 0 Medals
Arriyanalol: i need help
1 week ago 6 Replies 2 Medals
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!