19. If $100,000 is invested at 6% compounded monthly for 7 years,the compounded amount is given by A=100,000(1.005)84.Given that log 1.005=0.00217, find log A.(Note that 100,000=10³.)19.

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Answered: 19. If $100,000 is invested at 6%…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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19. If $100,000 is invested at 6% compounded monthly for 7 years, the compounded amount is given by A=100,000(1.005)84. Given that log 1.005 = 0.00217, find log A. (Note that 100,000 = 10³.) 19.