Answer:
Step-by-step explanation:
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
Answer:
9%
Step-by-step explanation:
Given that
The invested amount is $1,000
The future value is $2,400
The time period is 12 years
We need to find out the annual rate that compounded continously
So,
As we know that
Amount = Present value × e^(rate × time)
$2,500 = $1,000 × e^(rate × 12)
2.5 = e^(rate × 12)
ln 2.5 = 10r
ln 2.5 ÷ 10 = r
r = 9%
Answer:
Step-by-step explanation:
The first step to solve this equation is to add like numbers: 2x and -3x can be added together. Just as 2 + (-3) is -1, 2x + (-3x) is -1x.
The equation is now -x - 12 = 60. Add 12 on both sides of the equation and you’ll get -x = 72
Because x has a negative 1 in front of it we cancel it out by multiplying negative 1 on both sides. (-1) (-1x) = 72 (-1)
This makes x = -72