5,380,000 I'm pretty sure. Hope it helped! ❤
Answer:
19.8%
Step-by-step explanation:
We have the following formula for continuous compound interest:
A = P * e ^ (i * t)
Where:
A is the final value
P is the initial investment
i is the interest rate in decimal
t is time.
The time can be calculated as follows:
25 - 18 = 7
That is, the time corresponds to 7 years. In addition, A is 20,000 for A and P would be 5,000, we replace:
20000 = 5000 * e ^ (7 * i)
20000/5000 = e ^ (7 * i)
e ^ (7 * i) = 4
ln e ^ (7 * i) = ln 4
7 * i = ln 4
i = (ln 4) / 7
i = 0.198
Which means that the rounded percentage will be 19.8% per year
Answer:
about $2.54 per pound of sugar
