Let's investigate [b][color=#cc0000]the time it takes[/color][/b] for an initial investment to double. [br]You can move the [b]LARGE POINT[/b] on the yAxis to change the value of the initial investment (principal). [br][br]Here, we're looking to explore what happens to the time it takes for this initial investment to double when we let the number of times interest is compounded per year ([b]n[/b]) get bigger and bigger. [br][br]Interact with this app below for a few minutes. Then answer the questions that follow.
How long does it take for an initial investment of $1000 earning 7% annual interest to double for the case where [i]n [/i]= 1?
How long does it take for an initial investment of $2000 earning 7% annual interest to double for the case where [i]n [/i]= 1?
How long does it take for an initial investment of $1000 earning 7% annual interest to double for the case where [i]n [/i]= 2?
How long does it take for an initial investment of $2000 earning 7% annual interest to double for the case where [i]n [/i]= 2?
How long does it take for an initial investment of $1000 earning 7% annual interest to double for the case where [i]n [/i]= 4?
How long does it take for an initial investment of $2000 earning 7% annual interest to double for the case where [i]n [/i]= 4?
How long does it take for an initial investment of $1000 earning 7% annual interest to double for the case where [i]n [/i]= 12?
How long does it take for an initial investment of $1000 earning 7% annual interest to double for the case where [i]n [/i]= 24?
How long does it take for an initial investment of $1000 earning 7% annual interest to double for the case where [i]n [/i]= 100?
List 2 observations you've noticed as you've answered these questions: