chelesteial2078 chelesteial2078

24-04-2024
Mathematics

Answered

If you were asked to find the doubling time for an initial investment of $4000 growing at an annual interest rate of 3.5%, which of the following is the correct equation to model the situation?
1) 4000 * (1 + 0.035)ᵗ = 8000
2) 4000 * (1 + 0.035/2)⁽²ᵗ⁾ = 8000
3) 4000 * (1 + 0.035/2)⁽ᵗ/²⁾ = 8000
4) 4000 * (1 + 0.035)ᵗ = 16000

Answer :

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