Answer:
Hello,
Step-by-step explanation:
Q.5(b) The population {(P) in millions} of a country is estimated by the function, P=125e0.035t, t = time measured in years since 1990. (a) what is the population expected to equal in year 2000 (b) determine the expression for the instantaneous rate of change in the population (c) what is the instantaneous rate of change in the population expected to equal in year 2000.
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