Modeling Compound Interest In Exercises 127-130, complete the table for an account in which interest is compounded continuously.
Initialinvestment | Annualrate | Time to double | Amount after 10 years | Amount after 25 years | ||||||
129. | $15,000 | $18,321.04 |
To calculate: The accumulated amount of an investment of
Given Information:
The provided information is that the amount after
Formula used:
The accumulated amount for an initial investment
Calculation:
Consider the provided information that the amount after
Here,
Substitute
Take natural log on both the sides,
Hence, the annual rate or interest is
Substitute
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