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QUESTION
Select an amount of money that you would like to invest (for example $1000.00). This will be your P0 value.Let your...
- Select an amount of money that you would like to invest (for example $1000.00). This will be your P0 value.
- Let your interest rate be k = 0.5%.
- Write out the exponential function using the P0 and k values you have.
- Determine the value of your investment after 1, 5, and 10 years.
- Now, find the doubling time T for your investment. In other words, at what time would your initial deposit double in value?
- Repeat steps 3 through 5 for k = 1%.
- Repeat steps 3 through 5 for k = 1.5%.
