Keonn'a :Please Help Me.

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Questions

The following questions were asked by visitors named Keonn'a :Please Help Me..

This problem practice test: Abe wants to invest $3000 in a bond paying 2% interest. A. What will be the amount of the bond after it matures in 8 years. B. How long will it take to double?

Answers

The following answers were posted by visitors named Keonn'a :Please Help Me..

I met to type in school subject. A. A=P(1+r/n)^n*t A=$3000(1*0.02/8)^8*8 A=$3000(1+0.0025)^64 A=$3000(1.0025)^64 A=3000(1.173276583) A=3519.829749=3520.82 B. A=P(1+r/n)^n*t 2000=$3000(1+0.02/8)^8*t -2000-2000 $1000(1+0.00025/8)^8t $1000(1.0025)8t 1000(1.0...