£108 in the ratio 7:5
1 answer:
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Answer:
Make sure you plot your points in a table and set it up on a graph
Step-by-step explanation:
Answer:
Part 1)
Part 2)
Step-by-step explanation:
Part 1) we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Apply log both sides
solve for t
Part 2) we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above
Apply ln both sides