6 - 6x = 5x – 9x - 8 . The value of x is?
1 answer:
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Answer:
(a) annually = 28.07 years
(b) monthly = 27.75 years
(c) daily = 27.73 years
(d) continuously = 27.72 years
Step-by-step explanation:
given data
principal = $400
annual rate = 2.5% = 0.025
solution
we know here amount formula that is
amount = principal × ..................1
put here value for compound annually
800 = 400 ×
take ln both side
ln 2 = ln
t = 28.07 years
and
put value now in equation 1 for monthly
amount = principal ×
800 = 400 ×
take ln both side
ln 2 = 12t × ln(1.00208333)
t = 27.75 years
and
put value now in equation 1 for daily
amount = principal ×
800 = 400 ×
take ln both side
ln 2 = 365 t × ln (1.0000684932)
t = 27.73 years
and
for compound continuously
amount = principal × .................2
put here value
800 = 400 ×
t = 27.72 years