Math problems regarding compound interest
1-An investment doubles over 13 years. How often was interest compounded if the nominal rate was 5.3364%? (Round your answer to two decimal places.)
31.66
Incorrect: Your answer is incorrect.
times per year
2-A microbiologist generated a model that describes the number of bacteria in a culture after t days but has just updated the model from
P(t) = 4(3)t to P(t) = 4(2)t.
Which of the following implications can you draw from this information? (Select all that apply.)
The final number of bacteria is two times as much instead of three times as much as the original amount.
The initial number of bacteria is two instead of three.
The number of bacteria doubles every day instead of tripling every day.
The growth rate of the bacteria in the culture is 20 percent per day instead of 30 percent per day.
Incorrect: Your answer is incorrect.
Please tell me the answers, and the process of finding the answer.
