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
Anika [276]
3 years ago
15

The amount of money in an account with continuously compounded interest is given by the formula A = Pert , where P is the princi

pal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a year how long it takes for an amount of money to double if interest is compounded continuously at 3.1%.
Round to the nearest tenth.
Mathematics
2 answers:
soldi70 [24.7K]3 years ago
8 0
A=future amount
P=present amount
r=rate in decimal
t=time in years


when A=2P, then that is double
A=Pe^(rt)
2P=Pe^(rt)
divide by P
2=e^(rt)
r=3.1% or 0.031 solve for t
2=e^(0.031t)
take the ln of both sides
ln(2)=0.031t
divide both sides by 0.031
(ln(2))/0.031=t
use calculator
22.359=t
round to tenth
22.4 years to double
natima [27]3 years ago
5 0
It will take approximately 1.04 years to double the principal amount.


You might be interested in
PLSSSSS HELP AS SOON AS POSSIBLE <3 Perform the Indicated operation.
blagie [28]

Answer:

3/8

Step-by-step explanation:

6/8 - 3/8 = 3/8

You will get this answer if you type it in a calculator.

6 0
2 years ago
Type The missing number that makes these fractions equal: 4/?=2/8
natka813 [3]

Answer:

16

Step-by-step explanation:

2/8 is = to 1/4

4/16 is = to 1/4

GIVE ME BRAINLIESTTTTT

4 0
2 years ago
McKayla checked out 11 books from the library on Tuesday. On Wednesday, she went back to the library and checked out 23 more boo
tresset_1 [31]

Answer:

i would say about 33 books in total from tuesday to wednesday

Step-by-step explanation:

5 0
3 years ago
3n + 14= --4 What is the answer
andre [41]

Answer: n = -6

Step-by-step explanation:

3n+14=-4

Subtract 14 from both sides.

3n+14-14=-4-14

Simplify

3n=-18

Divide both sides by 3

3n/3 = -18/3

n=-6

5 0
3 years ago
Read 2 more answers
On a map, the distance between two towns is 2.5 inches, and 1 inch represents 6 miles.
pantera1 [17]
The actual distance between the two towns is 15 miles.
7 0
3 years ago
Other questions:
  • The median and the mean are both the middle data point.<br> .<br> O True<br> O False
    7·2 answers
  • Find the amount of Social Security deducted gross annual pay 45,397
    10·1 answer
  • Are these two functions inverse of each other? 3 g(x) + = 4x + 3 and f(x) = -x f(x) = -~- 4 Ο Νο O Yes​
    5·1 answer
  • 3/10 multiply to find an equivalent fraction
    15·1 answer
  • Common factors of 16a and 20ab.
    15·2 answers
  • Find: 11 3 ÷ 2 3 The quotient is 5 and .
    12·2 answers
  • 40 POINTS THERE IS MORE THAN 1 ANSWER BRAINLIEST IF CORRECT
    7·1 answer
  • A triangle's base is increasing at the rate of 3 inches/sec, its height at 2 inches/sec. At what rate is the area of the rectang
    5·1 answer
  • Identify the properties of equality needed to isolate a varaible and solve a given equation. Use the drop-down menus to show you
    9·1 answer
  • Find the total surface area of the triangular prism.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!