Mathematik-Online problems: Problem 908: Balance of Bank Account

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	Mathematik-Online problems:
	Problem 908: Balance of Bank Account

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A deposit of $ 1000 is made in a bank account which earns interest at an annual rate of 4%. How long it will take for the balance to double if the interest is compounded:

(a): continuously.
(b): annually.
(c): quarterly.
(d): daily.

(Author: Rafee )

see also:

Keyword: Function: exponential function

[Solutions]

automatisch erstellt am 24. 10. 2007