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Solve Each Equation A=P(1+rn)ntA = P(1+\frac{r}n)^{nt} To Find How Long It Takes a $3000 Investment to Approximation

Question 242

Short Answer

Solve each equation. Give an exact solution and a threedecimal-place approximation.
-Use the formula A=P(1+rn)ntA = P(1+\frac{r}n)^{nt} to find how long it takes a $3000 investment to become $5000 if it is invested at 10% interest compounded daily.

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