Mathematics: Approximately how long will it take for $700 to double if it is invested at 4% annual interest, compounded continuously? Round your final answer to the nearest whole year and do not label units.

Approximately how long will it take for $700 to

Ответ:

losstdr3ams

07.02.2022

Mathematics

17 years

Step-by-step explanation:

Exponential equation for compund amount( compunded continuously):

$A=Pe^{rt}$ , where P= Principal value , r= rate of interest , t= time.

Given: A= 2P

r =4%= 0.04

To find : t

Substitute all values in the formula , we get

$2P=Pe^{0.04t}\\\\\Rightarrow\ 2=e^{0.04t}$

Taking natural log on both sides

$\ln2=\ln e^{0.04t }\\\\\Rightarrow\ 0.693147=0.04t\\\\\Rightarrow\ t=\dfrac{ 0.693147}{0.04}\\\\\Rightarrow\ t=17.3286\approx17$

hence, it will take 17 years (approx).

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Ответ:

richardgibson2005

12.12.2021

Mathematics

$\sqrt{ \frac{27}{12} }$

${ \frac{ \sqrt{27} {} }{ \sqrt{12}}$

$\frac{ \sqrt{9 * 3} }{ \sqrt{4 * 3} }$

$\frac{ \sqrt{9} \sqrt{3} }{ \sqrt{4} \sqrt{3} }$

$\frac{3 \sqrt{3} }{2 \sqrt{3} }$

$\frac{3}{2}$

$1 \frac{1}{2}$

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Approximately how long will it take for $700 to double if it is invested at 4% annual interest, compounded continuously?
Round your final answer to the nearest whole year and do not label units.

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