mariperez955 mariperez955
  • 03-12-2017
  • Mathematics
contestada

if tanisha has $100 to invest at 9% compounded continuously, how long will it be before she has $250?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 03-12-2017
The formula is
A=pe^rt
A future value 250
P present value 100
E constant
R interest rate 0.09
T time?
250=100e^0.09t
Solve for t
250/100=e^0.09t
Take the log
Log (250/100)=log (e)×0.09t
0.09t=log (250/100)÷log (e)
T=(log(250÷100)÷log(e))÷0.09
T=10.18 years round your answer to get 10 years

Hope it helps!
Answer Link

Otras preguntas

A painter leans a 13ft ladder against a house. The base of the ladder is 5ft from the house. How high on the house does the ladder reach?
Starting from rest, the distance a freely-falling object will fall in 0.50 second is?
How do the Dry Pampas and Wet Pampas contribute to the economic health of Argentina.
can someone please help me​
Identify an endocrine structure of the female reproductive system and explain its functions.
Ron and Abdul disagree about whose turn it is to drive. Which statement could Ron make to best take ownership of his feelings? "You always get to drive." "Fight
What is 10% of $4.30 ?
What is the name of this compound? 2-butanone 2-pentanone 4-pentanone 4-butanone
Directions: Type your answer in the box.a woman has 6 apples. She needs 1/4of an apple to prepare one serving of fruit salad how many servings can she prepare
Which pair of elements would most likely bond to form a covalently bonded compound?