Suppose that $1,000 is invested at 5% interest compounded continuously. Use the formula A = Pert. (a) How long (to the nearest day) before the value is $1,250? (answer should be in: years, days) (b) How long (to the nearest day) before the money doubles? ( answer should be in : years, days) (c) What is the interest rate (compounded continuously and rounded to the nearest tenth of a percent) if the money doubles in 5 years? ( answer should be in : %)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Suppose that $1,000 is invested at 5% interest compounded continuously. Use the formula A = Pert.
(answer should be in: years, days)
(b) How long (to the nearest day) before the money doubles?
( answer should be in : years, days)
(c) What is the interest rate (compounded continuously and rounded to the nearest tenth of a percent) if the money doubles in 5 years?
( answer should be in : %)
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