Express 7. 66 repeating as a ratio of two integers.
1 answer:
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Answer:
It will take about 35.439 years to triple.
Step-by-step explanation:
Recall the formula for continuously compounded interest:
where "A" is the total (accrued or future) accumulated value, "r" is the rate (in our case 0.031 which is the decimal form of 3.1%), "P" is the principal, and "t" is the time in years (our unknown).
Notice also that even that the final amount we want to get is three times $48,000. So our formula becomes:
Now,in order to solve for "t" (which is in the exponent, we use logarithms:
Here is your answer:
1. These equations are similar because they "both share the same numbers but one is a decimal and the other is a whole number."
2. You have to solve each equation in order to determine which number is greater:
And:
Finally:
Therefore "8,464 is greater than 8.464."
Hope this helps!