Hi there
The function is
V (t)=25000 (1-0.09)^t
V (t)=25000 (0.91)^t....answer
Good luck!
Answer:
it's in the picture
Step-by-step explanation:
Answer:approximately 50 years.
Step-by-step explanation:
Let $P represent the initial amount that she deposited. It means that principal,
P = $P
It was compounded annually. This means that it was compounded once in a year. So
n = 1
The rate at which the principal was compounded is 1.4%. So
r = 1.4/100 = 0.014
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years. For the initial amount to double, it means that
A = 2P
Therefore
2P = P (1+0.014/1)^1×t
2P/P = (1.014)^t
2 = (1.014)^t
Taking log to base 10 of both sides, it becomes
Log 2 = log 1.014^t
Log 2 = tlog 1.014
0.301 = 0.006t
t = 0.301/0.006 = 50.2 years
