3 years ago

Explain the theories of entrepreneurship

Business

1 answer:

Cloud [144]3 years ago

5 0

Answer:

to make money and gain profit

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you invest $1300 in an account at interest rate r, compounded continuously. Find the time required for the amount to double and

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Answer:

1. For the amount to double: 9.37 years

2. For the amount to triple: 14.85 years

Explanation:

The equation for continuosly compounded interest is:

$F=P\times e^{rt}$

Where:

P is the amount that you invest today: $1,300
F is the value after t years: the double or triple of $1,300
r is the annual interest rate: 0.074

1. For the amount to double:

Substitute the values and solve for t:

$2\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 2\\ \\ t=\ln 2/0.074=9.37years$

2. For the amount to triple:

$3\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 3\\ \\ t=\ln 3/0.074=14.85years$

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3 years ago

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Answer:

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The money left over the cost of making a product or providing a service

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Explain the theories of entrepreneurship​

Explain the theories of entrepreneurship