Answer:
$14.39
Step-by-step explanation:
The formula for continuous compounding of interest is:
A = Pe^(rt), were P is the initial dollar amount, A is the final amount, r is the interest rate as a decimal fraction, and t is the time in years.
Here we have $2109 = $500e^(10r) and need to solve for r.
To do this, take the natural log of both sides, obtaining:
ln 2109 = ln 500+ 10r.
Then 10r = ln 2109 - ln 500, and
ln 2109 - ln 500
r = --------------------------------------------
10
= .1439
The interest rate was 14.39%.
It representes the original cost
A=P(1+r)^t
P=present amount
t=time
r=rate
A=final amount
afer 5 years
t=5
A=799(1.03)^5
A=926.26 after 5 years
answer is last option:
<span>799 represents the total value of the painting; the painting will be worth $926 after 5 years
</span>
The answer is D. 77. This stuff is 2EZ for me
