The price of one share of Company A declined $3.50 per day for four days in a row. What is the overall change in price of one sh
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Answer:
It will take 34.33
Step-by-step explanation:
* Lets talk about the compound continuous growing
- Compound continuous growing can be calculated using the formula:
# A = the future value
# P = the initial amount
# r = the growing rate in decimal
# t = the time
* Lets solve the problem
- The population of a particular country is growing at 3.2 %
compounded continuously
∴ r = 3.2/100 = 0.032
- We need to find how long will it take the population to triple
∵ The initial population is P
∴ A = 3P
∵
∴
- Divide both sides by P
∴
- Insert ㏑ for both sides
∴
- Remember
∴ ㏑(3) = 0.032t
- Divide both sides by 0.032
∴ t = ㏑(3)/0.032 = 34.33
* It will take 34.33