Correct me if I’m wrong
Find the doubling time for a city whose population is growing by 13% per year
1 answer:
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Answer: The initial amount in the account = $3600
Step-by-step explanation:
Since we have given that
The amount of money in a savings account after t years is represented by the function
As we know the formula "Compound Interest" :
So, According to our question,
Rate of interest = 0.35 = 35%
So, equate the both the equations , we get that
Hence, The initial amount in the account = $3600