Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investment. Find the bank balance assuming Ceasar leaves the account untouched for 8 years.
Can you please do the problem using the formula A(t)=pe^(rt).
Answer:
look at this image for explation .sory it is not clear
Answer:
46 years 1 month
Step-by-step explanation:
Let us assume the investment is a simple interest investment
The simple interest formula is
A= P(1+rt)
Given
Principal p= $1400
Rate r= 7.75%= 7. 75/100= 0.0775
Final amount A = $6400
Time t=?
To find the time t let us substitute our values in the simple interest formula
6400= 1400(1+0.0775t)
6400= 1400+108.5t
6400-1400=108.5t
5000= 108.5t
t=5000/108.5= 46.08
t= 46.1 years
It will take approximately 46 years 1 month to get the amount
Answer:
-100/5
Step-by-step explanation:
-21<-20