We have been given that a person places $6340 in an investment account earning an annual rate of 8.4%, compounded continuously. We are asked to find amount of money in the account after 2 years.
We will use continuous compounding formula to solve our given problem as:
, where
A = Final amount after t years,
P = Principal initially invested,
e = base of a natural logarithm,
r = Rate of interest in decimal form.
Upon substituting our given values in above formula, we will get:
Upon rounding to nearest cent, we will get:
Therefore, an amount of $7499.82 will be in account after 2 years.
I dont know the answer but you may find this helpful:
-1 Quart = 1.13 British litres
-Fluid ounce = 0.028 Brtish litres
-1 gallon = 4.546 British litres
-1 Cup is 0.237 British litres
Now all the mesurments are the same i hope this helps a bit.
Answer:
50
Step-by-step explanation:
The number of days for both Companies to have the same total amount is
6.4 days
<h3>Word Problem leading to Algebraic expression</h3>
Given Data
- Let the total payment be y
- Let the number of days be x
Company A
y = 57x+ 32 -----------------1
Company B
y = 62x + 0-----------------2
Equating 1 and 2 we have
57x+ 32 = 62x+ 0
Solving for x we have
62x-57x = 32
5x = 32
Divide both sides by 5
x = 32/5
x = 6.4 days
Learn more about word problem here:
brainly.com/question/13818690
Answer:
The maximum is at (1,3)
Step-by-step explanation:
The maximum value of the function is at the vertex
The maximum is at (1,3)
