To find out how long it will take for $500 to double when invested at %6 annual interest compounded twice a year, you solve the following equation: 1000=500(1+.06/2)^2t. Use complete sentences to describe each step of math needed to solve this equation.

Question

amistre64 · Answer

solve for "t"

anonymous · Answer

how would you do that?

amistre64 · Answer

A = P(1+b)^nt

A/P = (1+b)^nt

log(A/P) = nt log(1+b)

   log(A/P)
------------ = t
  n log(1+b)

anonymous · Answer

How would I plug the question into that

amistre64 · Answer

by comparing similar parts and substituting in the values into the placeholders ..... like normal

anonymous · Answer

If you don't mind, can you show me?

amistre64 · Answer

I did show you .... im not sure what else that i can do to make it any simpler

compare the first equation i used with the equation given and youll be able to define A, P, b and n with them to replace with

amistre64 · Answer

this is your given specific equation

1000=500(1+.06/2)^2t

I made the values general to keep the workings simple to follow

A = P(1 + b)^nt

compare these to define the values for a specific result

1000 = 500 (1+.06/2) ^ 2t
    A    =   P   (1 +   b  ) ^ nt

anonymous · Answer

does 2.19=t

amistre64 · Answer

id have to check it on a calculator .....

ln(2)/(2ln(1.03)) = 11.something