Answer: No
Step-by-step explanation:
I guessed..but it was right
54 = 2 × 3 × 3 × 3 ( as a product of its prime factor ).
It would take 10.7 years.
The formula for continuously compounded interest is:

where P is the principal, r is the interest rate as a decimal number, and t is the number of years.
Using our information we have:

We want to know when it will double the principal; therefore we substitute 2P for A and solve for t:

Divide both sides by P:

Take the natural log, ln, of each side to "undo" e:

Divide both sides by 0.065:
In bank A, after one year this would be the amount in the bank:
<span>$7,000 x 1.04 = $7280. </span>
<span>He has gained %280 interest. This means you'd need $1000 interest from bank B. </span>
<span>$13,000 would go into bank B... </span>
<span>If Seth's interest rate was 8.69% you could calculate the interest as: </span>
<span>(13000 x 1.0869) - 13,000 = $1129.70 which is a little much (but who'd complain). </span>
<span>This means the interest is lower than this, if it was 7.69% you could just substitute it into the same equation to find that he would get $999.70 interest. This isn't exactly $1000 but it is the most accurate answer to the nearest $100 :) He would then get $1279.70 interest altogether.. just 30 cents short</span>