How long does it take $6,000 to quadruple if it is invested at 9.1% interest compounded annually?
1 answer:
You might be interested in
Answer:
Step-by-step explanation:
We'll take this step by step. The equation is
Looks like a hard mess to solve but it's actually quite simple, just do one thing at a time. First thing is to subtract 8 from both sides:
The goal is to isolate the term with the x in it, so that means that the -3 has to go. Divide it away on both sides:
Let's rewrite that radical into exponential form:
If we are going to solve for x, we need to multiply both sides by the reciprocal of the power:
On the left, multiplying the rational exponent by its reciprocal gets rid of the power completely. On the right, let's rewrite that back in radical form to solve it easier:
Let's group that radicad into groups of 3's now to make the simplifying easier:
because the cubed root of 5 cubed is just 5, so we can pull it out, leaving us with:
which is the same as:
This is not true.
where is is any integer. So suppose we pick some value of
other than these, say
. Then