Answer:
its going to be 20 years
Step-by-step explanation:
1.036
The equation will be 6x - 4= 8.
Solve the equation: 6x - 4 = 8 + 4 + 4.
6x = 12. 6 6. x = 2
Hopefully, that helps
Continuous compounding is the mathematical limit that compound interest can reach.
It is the limit of the function A(1 + 1/n) ^ n as n approaches infinity. IN theory interest is added to the initial amount A every infinitesimally small instant.
The limit of (1 + 1/n)^n is the number e ( = 2.718281828 to 9 dec places).
Say we invest $1000 at daily compounding at yearly interest of 2 %. After 1 year the $1000 will increase to:-
1000 ( 1 + 0.02/365)^365 = $1020.20
with continuous compounding this will be
1000 * e^1 = $2718.28
