The answer is A I had this on my test in math class earlier on my math test
I bealive it is b. ( I had the exact same 7 th grade homework page ad u today;)
Answer:
13.86
Step-by-step explanation:
formula for cont. compounding interest is
Amount = Principal * e^rt
in this case the principal is 5000, and the amount is 10000 (double). the rate is 5% or 0.05. and t is what we are solving for.
sub in to get:
10000 = 5000e^0.05t
2 = e^0.05t
now convert to log form.
ln 2 = 0.05t
ln 2 / 0.05 = t
punch that into your calculator and you get 13.86 years
First you would have to multiply (1200)(3%)(7) which would be 252.then you add what jamie invested and 252. therefore she would have $1452 in his account after 7 years.