a consumer purchased a computer after a 15% price reduction. if x represents the computer's original price, the reduced price ca
1 answer:
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Answer:
x= 6
Step-by-step explanation:
Answer:
It takes 22.52 years for the balance to triple in value.
Step-by-step explanation:
Continuous compounding:
The amount of money earned using continuous compounding is given by the following equation:
In which A(0) is the initial amount of money and r is the interest rate, as a decimal.
Interest rate of 5%.
This means that , and thus:
Time for the balance to triple?
This is t for which . So
It takes 22.52 years for the balance to triple in value.