1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nutka1998 [239]
3 years ago
7

Find the amount of time to the nearest day it would take a deposit of $1300 to grow to 1 million at 17% compounded continuously.

The amount of time it would take to grow the deposit to $1 million is____ years ___ days
Mathematics
1 answer:
White raven [17]3 years ago
5 0
\bf \qquad \textit{Simple Interest Earned}\\\\
A = Pe^{rt}\qquad 
\begin{cases}
A=\textit{accumulated amount}\to 1000000\\
P=\textit{original amount deposited}\to& \$1300\\
r=rate\to 17\%\to \frac{17}{100}\to &0.017\\
t=years
\end{cases}

\bf 1000000=1300e^{0.17t}\implies \cfrac{1000000}{1300}=e^{0.17t}\implies \cfrac{10000}{13}=e^{0.17t}
\\\\\\
ln\left( \frac{1000000}{1300} \right)=ln(e^{0.17t})\implies ln\left( \frac{1000000}{1300} \right)=0.17t
\\\\\\
\cfrac{ln\left( \frac{1000000}{1300} \right)}{0.17}=t\impliedby years

now, how many days? simply multiply t * 365.
You might be interested in
5(1÷6) answers is what
zavuch27 [327]
An example of a negative mixed fraction: -5 1/2. Because slash is both signs for ... fractional exponents: 16 ^ 1/2 • adding fractions and mixed numbers: 8/5 + 6 2/7
8 0
3 years ago
Read 2 more answers
Divide.<br> 123 : 5 <br> remainder
blsea [12.9K]

123 / 5

100 / 5 = 20

20 / 5 = 4

3 = remainder

5 0
3 years ago
Read 2 more answers
What is two over eight minus 1 over 2
avanturin [10]

The answer is -1/4 I’m in 11th grade trust me

3 0
3 years ago
Read 2 more answers
Find the measure of ∠ 2.<br><br> degrees
miv72 [106K]
If\ it's\ a\ rhombus,\ then\ |\angle1|=26^o\\\\|\angle1|+|\angle2|+26^o=180^o\ \ /it's\ a\ triangle/\\\\26^o+|\angle2|+26^o=180^o\\52^o+|\angle2|=180^o\ \ \ |subtract\ 52^o\ from\ both\ sides\\\boxed{|\angle2|=128^o}
7 0
3 years ago
AB is dilated by a scale factor of 3 to form A'B' . Point O, which lies on AB , is the center of dilation. The slope of AB is 3.
Anna [14]
Given that AB has been dilated by scale factor 3 to form A'B', and by laws of dilation, the image is congruent to the pre image. This implies that the image will not change in any way whatsoever apart from the size. Hence the slope will remain the same. That means the slope of A'B' will be 3
7 0
3 years ago
Read 2 more answers
Other questions:
  • A sixteen-sided number cube has the numbers 1 through 16 on each face. each face is equally likely to show after a roll. what is
    6·2 answers
  • Which of the following is equal to the product of 3 1\2 and 4\7
    14·2 answers
  • Area of a circle is 2100. What is the radius
    8·1 answer
  • Which best represents the solution for the inequality-100 &gt; -5y
    6·1 answer
  • What 3 digits are in the units period 4083817
    14·1 answer
  • What value of x makes 3x+7=22
    5·2 answers
  • Use the drawing tool(s) to form the correct answers on the provided graph. In the given equation, y is a function of x. Graph th
    12·1 answer
  • ABCD is a rhombus. Find AB. Enter your answer as a fraction in simplest form.
    10·1 answer
  • What algebraic expression represents "The sum of a number and 9"?
    11·1 answer
  • Complete the statement.<br><br> f(3) is
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!