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Elodia [21]
3 years ago
13

Katelyn invested $1500 into her account which earned interest compounded continuously. After 10 years, she discovered that she h

ad $3935.36. What interest rate percent did Katelyn earn?
Answer: ____ % interest
Mathematics
1 answer:
katrin2010 [14]3 years ago
7 0

Given:

Principal = $1500

Time = 10 year

Amount after interest compounded continuously = $3935.36

To find:

The rate of interest.

Solution:

The formula for amount after continuous compound interest is:

A=Pe^{rt}

Where, P is principal, r is the rate of interest in decimal and t is time in years.

Putting P=1500,A=3935.36,t=10 in the above formula, we get

3935.36=1500e^{r(10)}

\dfrac{3935.36}{1500}=e^{10r}

2.6236=e^{10r}

Taking ln on both sides, we get

\ln(2.6236)=\ln e^{10r}

0.9645=10r                   [\because \ln e^x=x]

Divide both sides by 10.

\dfrac{0.9645}{10}=r

0.09645=r

The rate of interest in percentage is:

r=100\times 0.09645

r=9.645\%

Therefore, the required rate of interest is 9.645%.

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An equation that passes through (0, -2/3) and (-3, -2/3)
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Answer:

y = 0x - 2/3

Step-by-step explanation:

We are asked to find the equation of the line

Step1: find the slope

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m = (y_2 - y_1 )/ (x_2 - x_1)

x_1 = 0

y_1 = -2/3

x_2 = 3

y_2 = -2/3

Insert the values into the equation

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= -2/3 + 2/3 / 3

= 0 / 3

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Step 2: sub m into the equation

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y = 0x + c

Step 3: sub any of the two points given into the eqn

y = 0x + c

Let's pick ( 3 , -2/3)

x = 3

y = -2/3

-2/3 = 0(3) + c

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c = -2/3

Step4: sub c into the equation

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Therefore, the equation of the line is

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What is the distance of P(1,-3) from y- axis​
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Step-by-step explanation:

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