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3 years ago

5

How to do this. It’s hard

2 answers:

brilliants [131]3 years ago

8 0

I believe it’s y= 10

Black_prince [1.1K]3 years ago

4 0

I think the answer is y=10

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2 years ago

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3 years ago

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nexus9112 [7]

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Ethel wants to have $70000 in 20 years. How much does she need to invest today at 5.46% cc?

earnstyle [38]

$\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\dotfill&\$70000\\ P=\textit{original amount deposited}\\ r=rate\to 5.46\%\to \frac{5.46}{100}\dotfill &0.0546\\ t=years\dotfill &20 \end{cases} \\\\\\ 70000=Pe^{0.0546\cdot 20}\implies 70000=Pe^{1.092}\implies \cfrac{7000}{e^{1.092}}=P \\\\\\ 23488.13 \approx P~\hfill \stackrel{~\hfill \textit{the earned interest will be}}{70000-23488.13\implies 46511.87}$

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3 years ago