Answer:
t=20.24 years
Step-by-step explanation:
-Continuous compounding happens over an infinite number of periods and is given by the formula:
Where:
is the future value of the investment
is the principal amount invested
is the rate of interest and time respectively.
#We substitute the given values in the equation to solve for t:
Hence, it takes approximately 20.24 years for the principal to double in value.
Answer:.
Step-by-step explanation:
Answer:
1.8%
Step-by-step explanation:
2.85-2.80=$0.05
$0.05 x 100 = 5
5/2.80=1.78
1.8
Answer:
the answer is actually 6
Step-by-step explanation:
I already did it in class!!
