diegomacias3863 diegomacias3863
  • 15-06-2021
  • Mathematics
contestada

how many years (to two decimal places) will it take an investment of $17,000 to grow to $41,000 if it is invested at 2.95% compounded continuously

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 17-06-2021

Answer:

30 years

Step-by-step explanation:

Given data

P=$17,000

A= $41,000

R=2.95%

the expressio for the time is

t= ln(A/P)/r

t= ln(41,000 /17000)/0.0295

t= ln(2.41176)/0.0295

t= 0.8803/0.0295

t= 29.8

about 30 years

Answer Link

Otras preguntas

Which option identifies how the machinist will know how large to make the model in the following scenario? An engineer has just completed his design for a forkl
Which of these men was most closely associated with the Bull Moose Party? William Howard Taft William McKinley Theodore Roosevelt Woodrow Wilson
A sprinter runs 100 meters in 11.5 seconds. What is the runners average rate in meters per second?
Which of the following words can mean "also." for two too to
Solve the equations. Make conclusion. 3|x+12|=6
PLZ HELP 20 POINTS AND CHOOSING BRAINLIEST
name 2 things that cholesterol is used for​
Please help. You will get brainliest.
BIOS programs are embedded on a chip called ​
Select the correct comma placement. A.Nina's new job, a much better fit than the last one offers incredible benefits and vacation time. B.Nina's new job a much