√-11 please solve this perblom
1 answer:
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Answer:
Step-by-step explanation:
we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above
solve for t
simplify
Apply ln both sides
Applying property of exponents
Remember that ln(e) =1