Suppose that $1,000 is invested at 8% interest compounded continuously. Use the formula A = Pert. (a) How long (to the nearest day) before the value is $1,250? years, days (b) How long (to the nearest day) before the money doubles? 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? %
Suppose that $1,000 is invested at 8% interest compounded continuously. Use the formula A = Pert. (a) How long (to the nearest day) before the value is $1,250? years, days (b) How long (to the nearest day) before the money doubles? 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? %
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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