-20.40 divided by 4 equals 5.1
I think the formula is: P = P₀. e^(rt)
When P = 2P₀, the formula becomes 2P₀ =P₀.e^(rt)
Simplify by P₀, 2=e^(rt)
ln(2) = lne^(rt)
ln2 = rt.lne or lne =1 then ln2 = rt
Answer:
$317
Step-by-step explanation:
Formula for compound interest is;
A = P(1 + (r/n))^(nt)
For melanie;
P = $3800
r = 2⅜% = 0.02375
n = 12/4 = 3
t = 16 years
Thus;
A = 3800(1 + (0.02375/3))^(3 × 16))
A ≈ $5548
For Sébastien;
P = $3800
r = 2¾% = 0.0275
n = 12
t = 16
Thus;
A = 3800(1 + (0.0275/12))^(12 × 16))
A ≈ 5865
Difference between Sébastien and Melanie's final amount = $5865 - $5548 = $317
We must find a pattern in the powers of 3:
So, as you can see, both 
and 
end with 1. So, we can generalize as follows:
Since 
, we can deduce that 
ends with 9.
The precent of increase is 20%
