Answer:
Part 1)
Part 2)
Part 3)
Step-by-step explanation:
Part 1) we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
Let
x -----> amount of money to be invested
2x ---> Final Investment Value
we have
substitute in the formula above
Apply ln both sides
Part 2) we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
Let
x -----> amount of money to be invested
2x ---> Final Investment Value
we have
substitute in the formula above
Apply ln both sides
Part 3) we have
where
f(x) -----> is the long jump record in feet
x -----> the number of years since the school was opened
so
For x=3 years
substitute