Based on the interest rate and continuous compounding, the investment would double in value after 18.5 years.
We have given that,
investment to double at a 3 3/4% interest rate,
<h3>When will the investment double in value?</h3>
The future value using continuous compounding is:
= Amount x e ^ (rate x time)
Interest is
= 3.75%
<h3>What is the formula of an exponential function?</h3>
2 = e ^ (0.0375 x time)
In2 = 0.0375 x time
t = In2 / 0.0375
t= 18.5 years
To learn more about the compounded continuously visit:
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Matt could do one of the following arrangements;
2 rows of 8 CDs
4 rows of 4 CDs
Answer:
B ($9.78)
Step-by-step explanation:
Answer:
13.22
Step-by-step explanation:
were solving for t and we know:
a(t)=p(1+(r/n))^nt
5000=a-the total
2940=p-the starting amount
.041=r-the rate
1=n-compound (annual)
plug this into a graph :
5000=2940(1+(.041/1))^x
and you get : 13.22
Answer:
approximately 3.16 repeated
Step-by-step explanation:
