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secondary 3 | A Maths
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Date Posted: 1 year ago
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The time taken to double any initial amount on the said compounded interest rate is the same. The exponential term is the multiplier, and is only dependant on the length of time and the compound interest rate concerned. It is totally independent of the initial amount.
Thank you for the solution.
My pleasure, and you have a good one. Regards
Oops...just realized that the middle portion got blocked....is it alright for you to retype here?
Sure, of course.
The time required to double an initial amount, tied to a given compounded interest rate, is the same regardless of the quantum of the initial amount. The exponential term used in equation is a multiplier. It is dependent on two things: the compound interest rate and the duration of the investment. The value of the initial amount does not affect the final value of the exponential term.
The time required to double an initial amount, tied to a given compounded interest rate, is the same regardless of the quantum of the initial amount. The exponential term used in equation is a multiplier. It is dependent on two things: the compound interest rate and the duration of the investment. The value of the initial amount does not affect the final value of the exponential term.
Thank you for your help.
Nothing to it. Regards
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