1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wolverine [178]
3 years ago
9

How many years (approximately) will it take $6,000 to amount $8,000 if it is invested at an annual rate of 9.0% compounded conti

nuously
Mathematics
2 answers:
quester [9]3 years ago
6 0

Answer:

It should take roughly 3.5 years

Step-by-step explanation:


enyata [817]3 years ago
5 0

Answer:

3.2 years.

Step-by-step explanation:

We are asked to find the number of years it will take an amount of $6,000 to be $8,000 compounded continuously at an annual rate of 9%.

We will use continuous compound interest formula to solve our given problem.

A=Pe^{rt}, where,

A = Amount after t years,

P = Principal amount,

e = Mathematical constant,

r = Interest rate in decimal form,

t = Time in years.

\$8,000=\$6,000e^{0.09*t}

\frac{\$8,000}{\$6,000}=\frac{\$6,000e^{0.09*t}}{\$6,000}

\frac{4}{3}=e^{0.09*t}

Switch the sides:

e^{0.09*t}=\frac{4}{3}

Now, we will take natural log of both sides.

\text{ln}(e^{0.09*t})=\text{ln}(\frac{4}{3})

0.09*t=\text{ln}(\frac{4}{3})

0.09*t=0.2876820724517808

\frac{0.09*t}{0.09}=\frac{0.2876820724517808}{0.9}

t=3.19646747\approx 3.2

Therefore, it take approximately 3.2 years for the amount of $6,000 to be $8,000.

You might be interested in
Please help answer asap
In-s [12.5K]
The answer is d.subx=0/y=0
8 0
3 years ago
Please answer it now in two minutes
zimovet [89]

Answer:

59.0

Step-by-step explanation:

Given a right angled triangle, ∆XYZ, to know which trigonometric ratio formula to apply in finding the measure of angle X, note the following:

Opposite side to angle X = 6

Hypotenuse = 7

Therefore, we would apply the following trigonometric ratio formula to solve for m<X:

sin X = \frac{6}{7}

sin X = 0.8571

X = sin^{-1}(0.8571)

X = 58.99

m < X = 59.0 (rounded to nearest tenth)

4 0
2 years ago
What is the value of h(-2)=3x+1 is what
Vitek1552 [10]
-5 is the answer to your question because all you do is plug in -2 into your equation for x
6 0
3 years ago
Read 2 more answers
My score in math is a 69 pls help
Xelga [282]

Answer:

okay

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
I need help on this problem.
aliya0001 [1]

In this situation, x=2.

5 0
3 years ago
Other questions:
  • Explain how to estimate 368+231 two different ways
    13·2 answers
  • In the Department of Natural Sciences, 14 faculty members have a PhD, and 30 faculty
    6·1 answer
  • a plastic storage container has a base which is 70 centimetres long and 30 centimetres wide the container is 50cm. high and has
    13·1 answer
  • 80 POINTS, I WILL MARK BRAINLYEST, LEGIT JUST 4 QUESTIONS. PLEASE ANSWER WITH WORK OR NO POINTS FOR YOU!!!!
    10·1 answer
  • mr. Garcias class raised momey for a field trip to the zoo. There are 23 students in his class. The cost of the trip will be $17
    15·2 answers
  • Can you please help me out with this question I really need it Thank Youu❤️
    14·2 answers
  • Brenna writes a product of six negative factors. She uses the following steps to determine that the product of the six numbers w
    7·2 answers
  • Mountain Dew has 25 fewer milligrams of caffeine than a can of Red Bull. If a Mountain Dew
    5·1 answer
  • Nhia is setting up a marble tournament for the kids in her apartment complex. So far, 47 kids have signed up to play. Each playe
    9·2 answers
  • F(x) = 1.7x² + x - 2<br> Linear or nonlinear
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!