What is the range of the function represented by this graph? the graph of a quadratic function with a minimum value at the point
1 answer:
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Answer:
Step-by-step explanation:
<u><em>The value of r is the question is</em></u>
r=0.03
we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above
solve for t
Apply ln both sides
Apply property of logarithms
Remember that