Assuming that you invest $10,000 in the U.S., how long (to the nearest year) must you wait before your investment is worth $18,000 if the interest of 5.3% is compounded annually?
For the answer I ended up with 18000 = 10000(.015)^-.096546.
The problem is I don't know how to translate -.096546 into years. Can anyone help?
Oh it's .053 not .015 sorry but I just need to know how to translate the t value into years
For the answer I ended up with 18000 = 10000(.015)^-.096546.
The problem is I don't know how to translate -.096546 into years. Can anyone help?
Oh it's .053 not .015 sorry but I just need to know how to translate the t value into years