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
Given matrix A below, calculate det[A] twice using minors and cofactors
Gala2k [10]

Answer:

a. 3(16-21) - 4(8-18) +5(7-12) = -15 + 40 - 25 = 0

b. 3(21-24) - 5(7-12) + 8(4-6) = -9 + 25 - 16 = 0

5 0
3 years ago
Simplify 5x + 4x + 1.
goldfiish [28.3K]
Answer: 9x + 1

Explanation: combine like terms, and since 5x and 4x has the same variable, they can be combined.
6 0
3 years ago
[Please help] At the mall, Leona bought a T-shirt and a book for a total of $28. The book cost $12. How much did the T-shirt cos
podryga [215]

Answer:

the T-shirt cost is $16

Step-by-step explanation:

first, we know the total cost of the shirt and book was $28 so we substract 12 from 28 wich gives us 16 so the cost of the shirt is $16.

8 0
3 years ago
What is an equation of the line that passes through the points (0, 0) and (- 4, - 5) ?​
Margarita [4]

Answer:

y=5/4x  

Step-by-step explanation:

(A fraction)

4 0
3 years ago
I need help like right now I have no idea what I’m looking at
weqwewe [10]

Answer:

what grade are u in and what are the answer choices if the steps are the choices then try step 3

Step-by-step explanation:

4 0
3 years ago
Other questions:
  • Choose the equivalent system of linear equations that will produce the same solution as the one given below.
    8·2 answers
  • the first quartile of a data set is 51 and the third quartule is 67. which of these values in the data set is an outlie
    11·1 answer
  • How much money all together would it be if 12 children were paying $10 each fo a soccor game
    5·2 answers
  • Can someone help me with this please?
    6·1 answer
  • What is 0.64 as a mixed fraction
    6·1 answer
  • Find the Area of the figure below, composed of a rectangle with a semicircle removed from it. Round to the nearest tenths place.
    11·1 answer
  • What is the result of 8 divided by 3/8
    8·2 answers
  • I really need help on this question, thank you!
    5·1 answer
  • Find the profit obtain by a trader by selling 50 mangoes each Rs 12.00 which bought at the price of Rs. 8 each .
    6·1 answer
  • The radius of a circle is 2 yards. What is the circle's area? r=2 yd Use 3.14 for ​.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!