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MrRa [10]
2 years ago
13

What is the total amount that Mathews bank will receive after lending him 8000 for four years

Mathematics
1 answer:
marysya [2.9K]2 years ago
5 0

Answer:

32,000

Step-by-step explanation:

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3 years ago
If $48,000 is invested in an account earning 3.1% interest compounded continuously, determine how long it will
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Answer:

It will take about 35.439  years to triple.

Step-by-step explanation:

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A=P\,e^{r*t}

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Notice also that even that the final amount we want to get is three times $48,000. So our formula becomes:

3\,*\,48,000=\,48,000\,\,e^{0.031\,*t}\\\frac{3\,*\,48,000}{48,000} =e^{0.031*t}\\3=e^{0.031*t}

Now,in order to solve for "t" (which is in the exponent, we use logarithms:

ln(3)=0.031\,*\,t\\t=\frac{ln(3)}{0.031} \\t=35.439 \,\,years

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