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IgorLugansk [536]

3 years ago

12

Olivia invested $500 in an account paying an interest rate of 2.4% compounded continuously. Assuming no deposits or withdrawals

are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $650?

1 answer:

Dominik [7]3 years ago

3 0

It would be 10.932 years or 10.9 to the tenth

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Answer: 37 units

Step-by-step explanation:

$Blue=144units^2$ This also works as the height of the triangle.

$Pink=1225units^2$ This also works as the base of the triangle.

Let's call pink ''a'', and blue ''b''. The side we're looking for ''c'' is the hypothenuse.

To find the values of a and b, use the area formula of a square and solve for a side. In this case, since we're going to need the squared values, this step can be omitted.

$Formula: A=s^2$

$s=\sqrt[]{A}$

Let's work with Blue.

$s=\sqrt[]{144units^2} \\s=12units$

Now Pink.

$s=\sqrt[]{1225units^2}\\s=35units$

So we have a triangle with a base of 35 units and a height of 12 units.

Now let's use the pythagoream's theorem to solve.

$c^2=a^2+b^2\\c=\sqrt[]{a^2+b^2} \\c=\sqrt[]{(12units)^2+(35units)^2}\\c=\sqrt[]{144units^2+1225units^2}\\ c=\sqrt[]{1369units^2}\\ c=37units$

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It is 6 because I got the awnser multiple times

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Can someone help me with this one

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