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
On Sunday, Chris bought 5% of the cans from his grocery store in preparation for hurricane Sandy. If he bought 61 cans, how many
Gelneren [198K]

Answer:

  • 1220 cans

Step-by-step explanation:

Let the number of cans be x

<u>5% of x is 61, solve the equation below for x:</u>

  • x*0.05 = 61
  • x = 61/0.05
  • x = 1220 cans
7 0
3 years ago
Circles M and K are congruent, arc QR is congruent to arc LN and arc OP is congruent to arc VW. Find x.
SCORPION-xisa [38]

Given, arc QR is congruent to arc LN and arc OP is congruent to arc VW.

And the expressions for each arc in the diagram also given as:

Arc QR = 2x - y, arc LN = 11 , arc OP= 10 and arc VW=5x+y.

Hence, we will get the system of equations as following:

Arc QR = Arc LN

2x - y = 11 ...(1)

Arc OP = Arc VW

5x + y = 10 ...(2)

We need to find the value of x. So, we can add the equations to eliminate y so that we can solve the equations for x. Therefore,

2x+5x = 11 + 10

7x = 21

\frac{7x}{7} =\frac{21}{7} Divide each sides by 7.

So, x= 3

6 0
3 years ago
A tent rental company charges a mandatory $175 setup fee and a $110 hourly rental fee. Which of the following equations can be u
LekaFEV [45]

Answer:

A. c (in $) = 110(8) +175

Step-by-step explanation:

$175 is the starting price so in terms of an equation or an equation of a line it is the "b" or y-intercept.

c is the "y" or the depedent variable to solve for.

$110 is the increasing interval that is multiplied by the known variable, "x".

8 is the second variable, "x" but is known.

7 0
3 years ago
Read 2 more answers
Name all the awnsers below
spayn [35]

Answer:

this doesn't look fun.

Step-by-step explanation:

4 0
3 years ago
23=1/3b-2+4/3b<br>what is the value of b?​
mash [69]

Answer:

b=15

Step-by-step explanation:

4 0
3 years ago
Other questions:
  • DeWayne wants to find out what career his fellow middle school students would like to pursue. He plans to collect three samples.
    9·2 answers
  • The planet Mars could be a future destination for the U.S. space program. Assume that Mars is a perfect sphere. Its surface area
    6·1 answer
  • On her 30th birthday, Ann Marie opened a new compound interest account with $25,000
    10·2 answers
  • Round to the nearest hundred 7684
    5·2 answers
  • A forester planted 3 acres in seedlings the first day, 5 acres the second day, and
    11·1 answer
  • Jason and Eddy are traveling from Jacksonville to Miami, which is a distance of 382 miles. According to the American Automobile
    12·1 answer
  • If h(x) = 3x – 1 and g(x) = -3x2 – 5, find h(g(x)).
    6·1 answer
  • Which of the following represents x = 1/3y written in general form?
    13·2 answers
  • Combine Like Terms : -4x+3-7x-8
    5·2 answers
  • Anyone wanna help out?? &lt;33
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!