robertstoll81
19.05.2021 •
Mathematics
Please help me answer this question and find out how many chocolate bars Kyle has to melt to fit the mold.
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Ответ:
This formula applies to continuously compounded interest.
After 9 years, his $750.00 will become 1,500.00
rate = ln(Total / Principal) / years
rate = ln(1,500/750) / 9
rate = ln(2) / 9
rate = 0.69314718056 / 9
rate = 7.70163534 compounded continuously
Now, here's the continuously compounded interest formula for total.
Total = Principal * e^(rate*years)
Total = 750 * 2.718281828^(.0770163534 * 12)
Total = 750 * 2.718281828 ^ ( 0.9241962408)
Total = 750 * 2.5198420995
Total = 1,889.88 after 12 years
You can find those formulas here: http://www.1728.org/rate2.htm
And there's a compound interest calculator here:
http://www.1728.org/compint.htm