(CRESPO, 2002) What is the deadline for an investment of R$200,000.00, at a simple interest rate of 2.5% per month, to yield an amount of R$240,000.00?
Accepted Solution
A:
To calculate the deadline for the investment, we can use the formula:
Deadline = log(P / A) / log(1 + r)
Where:
P = $240,000 (the principal amount)
A = $200,000 (the amount to be yielded)
r = 0.025 (the monthly interest rate)
Deadline = log($240,000 / $200,000) / log(1 + 0.025)
Calculating the deadline, we get:
Deadline β 1.25 months
So, the deadline for the investment is approximately 1.25 months.