1) Fill the two pools below with water.
2 answers:
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Solution: We know that formula for continuously compound interest is:
Where A is the future amount $900 x 2 = $1800
P is the principal investment $900
e is the eular's constant
r is rate of interest 0.09
t is the time ( to be found)
Therefore we have:
Taking natural log on both sides
Therefore it will take 7.702 years to double the amount