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Allisa [31]
3 years ago
10

you invest $1300 in an account at interest rate r, compounded continuously. Find the time required for the amount to double and

triple. (Round your answers to two decimal places.) r = 0.074
Business
1 answer:
miskamm [114]3 years ago
4 0

Answer:

  • 1. <em>For the amount to double</em>: <u>9.37 years</u>
  • 2. <em>For the amount to triple</em>: <u>14.85 years</u>

Explanation:

The equation for continuosly compounded interest is:

  • F=P\times e^{rt}

Where:

  • P is the amount that you invest today: $1,300
  • F is the value after t years: the double or triple of $1,300
  • r is the annual interest rate: 0.074

<u>1. For the amount to double:</u>

Substitute the values and solve for t:

             2\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 2\\ \\ t=\ln 2/0.074=9.37years

<u>2. For the amount to triple:</u>

<u />

            3\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 3\\ \\ t=\ln 3/0.074=14.85years

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Answer:

The correct option is C) place utility

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Coronado Inc. had beginning inventory of $12700 at cost and $20900 at retail. Net purchases were $113930 at cost and $158500 at
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Answer:

<u><em>Ending Inventory:</em></u> <em>21,267.70</em>

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beginning        12,700    20,900

purchases   113,930   158,500

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total                 126,630    181,600  

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3 0
3 years ago
Many people have argued that the skills needed to be successful in today's workforce have changed. What skills do you feel an in
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5 0
3 years ago
Using the information presented above, determine the following: Determine EPS for Net Income ('x2) $_____________________ (Round
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Question Completion:

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Income Tax Rate (’x2) 30%

5% Preferred Stock ($100 Par, 10,000 shares issued)

Common Stock ($1 par, 600,000 shares issued, 500,000 outstanding)

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