How do you compound interest continuously??
1 answer:
The question states the interest is compounded annually. We have to use the given formula for this.
Principal Amount = P = $500
Interest Rate = r = 6% = 0.06
Time in years = t = 12
Compounding periods in a year = n = 1
Using the values in the given formula we get:
Thus, rounding to nearest cent the answer to this question is 1006.10
However, if you are also interested in finding the compound interest that is compounded continuously, use the following formula:
Principal Amount = P = $500
Interest Rate = r = 6% = 0.06
Time in years = t = 12
Compounding periods in a year = n = 1
Using the values in the given formula we get:
Thus, rounding to nearest cent the answer to this question is 1006.10
However, if you are also interested in finding the compound interest that is compounded continuously, use the following formula:
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Answer:
The tree is 16.25 m tall.
Step-by-step explanation:
Attached is a diagram that better explains the problem.
From the diagram we see that the distance between the top of the tree and the line of sight of the observer is x.
To find the height of the tree, we need to first find x and then add it to the height of the observers line of sight from the ground.
Using SOHCAHTOA trigonometric function:
tan(20) = x/39.2
=> x = 39.2 * tan(20)
x = 39.2 * 0.364
x = 14.27m
Hence, the height of the tree is:
(14.27 + 1.98)m
16.25m
The tree is 16.25 m tall.
