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Mr. and mrs. mitchel are saving for their daugthers college education. they invest 10,000 in a account that pay 4.5% ineterest compounded countinyosly with the goal to have twice that amount in the account in ten years.

 Oct 17, 2020
edited by Guest  Oct 17, 2020
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10000 e.045(10)   = 15683.12      they will not make it to double 10 000 in 10 years

                              ...they need more time or a higher interest rate to double thier initial investment

 
 Oct 17, 2020

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