Rounded to the nearest hundred thousand to 400,000
2 answers:
You might be interested in
Answer:
11.1 years
Step-by-step explanation:
The formula for interest compounding continuously is:
Where A(t) is the amount after the compounding, P is the initial deposit, r is the interest rate in decimal form, and t is the time in years. Filling in what we have looks like this:
We will simplify this first a bit by dividing 2000 by 1150 to get
To get that t out the exponential position it is currently in we have to take the natural log of both sides. Since a natural log has a base of e, taking the natual log of e cancels both of them out. They "undo" each other, for lack of a better way to explain it. That leaves us with
ln(1.739130435)=.05t
Taking the natural log of that decimal on our calculator gives us
.5533852383=.05t
Now divide both sides by .05 to get t = 11.06770477 which rounds to 11.1 years.
Answer:
The answer to the question is
She invested
Php2700.00 at 8 % and
Php 20,400.00 at 11 %
Step-by-step explanation:
To solve the question we note that
Simple interest is given by where
P= Principal, R = Rate and T = Time
If we call the first part P₁, T₁, and R₁ and the second part
P₂, T₂, and R₂
Then
= 2700×0.08×1 + P₂×0.11×1 = 2460 which gives
2244÷0.11 = P₂ or P₂ = Php 20,400.00
That is she invested
Php2700.00 at 8 % and
Php 20,400.00 at 11 %