If an ounce of gold, valued at $670, increases at a rate of 7.2 percent per year, how long will it take to be valued at $1,000? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlinesOrder Paper Now
We use the formula:
r=rate of interest
Taking log on both sides;
which is equal to