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bogdanovich [222]
3 years ago
12

If Tanisha has ​$nbsp 100 100 to invest at 66​% per annum compounded semiannuallysemiannually​, how long will it be before she h

as ​$nbsp 150 150​? If the compounding is​ continuous, how long will it​ be?
Mathematics
1 answer:
Oxana [17]3 years ago
7 0

Answer:

time is 6.76 years

Step-by-step explanation:

given data

amount = $150

payment = $100

rate r = 6%  = 0.06

to find out

time period t

solution

we know it is compounding continuous

so we will apply here formula that is

amount = payment × e^{rt}   ..........1

put here all value we get

amount = payment × e^{rt}  

150 = 100 × e^{0.06t}  

take ln both side

ln 1.5 =  e^{0.06t}  

0.40546 = 0.06t

t = 0.40546 / 0.06

t = 6.76

so time is 6.76 years

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