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QUESTION

EXponential function for compound interest formula

Select an amount of money that you would like to invest (for example $1000.00). This will be your P0 value.Let your...

  1. Write out the exponential function using the P0 and k values you have.
  2. Select an amount of money that you would like to invest (for example $1000.00). This will be your P0 value.
  3. Determine the value of your investment after 1, 5, and 10 years.
  4. Now, find the doubling time T for your investment. In other words, at what time would your initial deposit double in value?
  5. Repeat steps 3 through 5 for k = 1%.
  6. Repeat steps 3 through 5 for k = 1.5%.
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ANSWER

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