Which expression is equal to 9/10 ? A. 9x 1/10 B. 10x 1/9 C. 9/9x 10/10 D. 1/10 x 9/10
2 answers:
You might be interested in
Answer:
31 years to triple the investment
Step-by-step explanation:
Initial investment = 300
Triple amount that is final amount = 300*3= 900
rate of interest = 3.5 % = 0.035
we need to find out number of years (t)
for compounded continuously we use formula
A is the final amount
P is the initial amount
r is the rate of interest
t is the number of years
Divide both sides by 300
take 'ln' on both sides
ln(3) = 0.035t ln(e)
ln(e)= 1
t= 31.3889
Round to nearest whole number
t= 31 years