6. Find the nimber of.years required for a $2000 investment to triple at a 9% interest rate compounded continuously. Give answer to nearest year.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 51RE
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Question
3. Condense the expression into the log of a single quantity:
(3logx+2logy-logz)
Transcribed Image Text:3. Condense the expression into the log of a single quantity: (3logx+2logy-logz)
6. Find the number of.years required for a $2000 investment to triple at a
9% interest rate compounded continuously. Give answer to nearest year.
6,000
A=Pert
2 000
Ans. ,
Transcribed Image Text:6. Find the number of.years required for a $2000 investment to triple at a 9% interest rate compounded continuously. Give answer to nearest year. 6,000 A=Pert 2 000 Ans. ,
Expert Solution
Concept used

The formula for continuous compounding is A=pert

where A is the final amount

p is principal amount

r is annual rate of interest in decimal form

t is time in years.

Solution for the given Problem

3)

153logx+2logy-logz=15log x3+log y2-log z                     as nloga=logan =15logx3y2-log z                             as loga+logb=logab=15log x3y2z                                         as loga-logb=logab=log x3y2z15                                          as nloga=logan

 

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