Perry has an opportunity to invest with an APR of 5.25%.

Using the rule of 70, how long will it take his investment to

2 thoughts on “Perry has an opportunity to invest with an APR of 5.25%.<br /><br /> Using the rule of 70, how long will it take his investment to”

1. Answer:

   A = Pert is formula for continuously compounded interest

   A = final amount = 2000

   P = principal = 1000

   e = euler’s number (on calculator)

   r = interest rate as decimal = .075

   t = time in years

   Your mistake is that 7.5% as a decimal is 7.5/100 = .075

   not 7.5

   2000 = 1000e.075t

   e.075t = 2000/1000

   e.075t = 2

   take natural log of both sides

   ln e.075t = ln 2

   .075t = ln 2

   t = ln2/.075

   t = 9.24 years

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2. Step-by-step explanation:

   hence the calculation is 11 years

   hope it is very helpful to you

   pls mark as brainlist answer

   you are welcome

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