michaelcarroll10 michaelcarroll10
  • 22-09-2017
  • Business
contestada

How long does it take for a deposit of $1100 to double at 2% to compound continulously?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 22-09-2017
Set the equation
2p=p e^rt
2=e^rt
R interest rate 0.02
T time?
Solve for t
2=e^0.02t
Take the log for both sides
Log (2)=0.02t×log (e)
Divide both sides by log (e)
0.02t=log (2)/log (e)
Divide both sides by 0.02
T=(log(2)÷log(e))÷0.02
T=34.65 years round your answer to get 35 years

Hope it helps!
Answer Link

Otras preguntas

what is 20 divided by 1,000
plez help Why did the Japanese government accept the letter Perry brought from President Fillmore in 1853? The government wanted news from the United States. Th
What would happen to a cell if its mitochondria stopped working? And why would it happen!?
Why did Germany declare war on Russia
if a stamp costs 45 cents, what does a roll of 125 stamps cost in cents? what is your amount in dollars
14 2/3 divided by 3/4
what is 20 divided by 1,000
Which statement about the Declaration of Independence is true? A. It was written by George Washington to inspire his troops on the field of battle. B. It was wr
Which sentence in the US Constitution provides for limiting the power of government?.
2x²+5=13 How do you find the value of x?