Question

find out how long it takes a $2700 investment to double if it is invested by 7% compounded semiannually. Round to the nearest tenth of a year . Use the formula A=P[1+r/n]^nt

Answer 1

2=(1+.07/2)^2t
log of both sides..
log2=2t log(1+.035)

can you do that? Solve for t?

Answer 2

you want the $2700 to double, so A = 5400

5400 = 2700(1 + .035)^(2t)
2 = 1.035^(2t)

I hope you know how to use logs and know the rules of log operations

2t = log 2/log 1.035
2t = 20.148
t = 10.07
= 10.1 to the nearest tenth

Answer 3

seven percent/n= .07/2

Answer 4

how did you get (.035)