Answer:
Step-by-step explanation:
Exponential function representing final amount with compound interest compounded continuously,
Here, A = Final amount
P = principal amount
r = Rate of interest
t = Duration of investment
For P = $9600
r = 6%
A = 2 × 9600 = $19200
By substituting these values in the formula,
ln(2) = 0.06t
t = 
t = 11.55245
t ≈ 11.5525 years
Any amount will get doubled (with the same rate of interest and duration of investment) in the same time.
Therefore, $960000 will get doubled in 11.5525 years.
The answer is 15and not the others
1) 5.1
2)7.9
3) 4
4)20
5)8.9
6) 4.2
7)5.2
8)15
I'am somewhat confident that some are right because iam not sure your suppose to round the nearst tenth
Answer:
2,995 or 35,940(?)
Step-by-step explanation:
I don't exactly remember how to do this so, I'll show you two different ways I solved this
Use the formula I=P*r*t
I=Interest
P=Principal
r=rate
t=time
To solve this you'll have to...
The principal is 29,950, the rate is 5% but it'll become a decimal which is 0.05, and the time is 2
Put it into the formula form 29,950*0.05*2= 2,995 in interest
Or...
You'll use the same formula, but this time multiply 0.05 by 12 since there are 12 months in one year which is 0.6, so...
29,950*0.6*2=35,940 in interest
I hope one works!
Answer:
2x+3y= 1500
Step-by-step explanation:
