A. 15 b. 16 c. 9 d. 14
2 answers:
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The value of n in the given equation is -2.6
Step-by-step explanation:
Given,
10 =
To find the value of n
10 =
or, 10(3n+8) = 2 [ by cross multiplication]
or, 30n + 80 = 2
or, 30n = 2-80 [ taking the constant values in one side]
or, 30n = -78
or, n =
or, n = -2.6
The formula we use for continuous compounding is 
where P is the initial amount invested, r is the rate as a decimal, and t is time in years. Our P = 1300, our r = .042, and our t = 5.75 (9 months is 3/4 of a year, and 3/4 in a decimal is .75). Putting all that into our formula we have 
. We have to multiply those 2 powers together and then raise euler's number to it, then multiply by 1300. Doing all of that, we get the amount at the end to be $1,655.10