if you deposit $10000 at 11%(simple interest), how long will it be until the total amount in the account is $21000?
1 answer:
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Step-by-step explanation:
Given - f(t)=110(1.35)^{\frac{t}{40}}
To find - Write the function in the form f(t)=ae^{kt}. Round all coefficients
to four decimal places.
Proof -
Given that , the function is f(t)=110(1.35)^{\frac{t}{40}}
Now,
We can write it in the form of
By comparing with the form , we get
a = 110.0000
k = = 0.0250