Find the APR of a bond that doubles its value in 12 years. Round your answer to the

Chapter 10, Problem 27

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QUESTION:

Find the APR of a bond that doubles its value in 12 years. Round your answer to the nearest hundredth of a percent.

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QUESTION:

Find the APR of a bond that doubles its value in 12 years. Round your answer to the nearest hundredth of a percent.

ANSWER:

Step 1 of 3

We have given that

We let  as  to generalize all possible value and we let  as  because we need to show that  is twice the value of .

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