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fredd [130]
3 years ago
5

Alan deposited $300 in an account that pays 6% interest compounded continuously. Approximately how long will it take for Alan’s

money to triple?
(Use formula A=Pe^rt where A is the accumulation amount, P is the initial amount, r is the annual rate of interest, and t is the elapsed time in years.)

Show your work for credit
Mathematics
1 answer:
Lelechka [254]3 years ago
3 0

9514 1404 393

Answer:

  18.3 years

Step-by-step explanation:

You want ...

  A/P = 3 = e^(rt) . . . for r = 0.06

Taking the natural log, this gives ...

  ln(3) = 0.06t

  t = ln(3)/0.06 ≈ 18.31

It will take about 18.3 years for the value to triple.

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The inverse function is f(x) = \frac{x - 1}{2}


You can find the inverse of any function by switching the f(x) value and the x value. Then solve for the new f(x) value. The result will be your inverse function. Below is the step-by-step process for solving this one.


f(x) = 2x + 1 ---> Switch the f(x) and x values

x = 2f(x) + 1 ---> Subtract 1 from both sides

x - 1 = 2f(x) ----> Divide each side by 2.

\frac{x - 1}{2} = f(x) ---> Switch the order so that it looks like a function.

f(x) = \frac{x - 1}{2}


And that would be your inverse function.

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