anonymous
  • anonymous
How long will it take for $1700 to grow to $38,500 at an interest rate of 8.8% if the interest is compounded continuously? Round the number of years to the nearest hundredth?
Mathematics
katieb
  • katieb
See more answers at brainly.com
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this
and thousands of other questions

amistre64
  • amistre64
38500 = 1700(e^(.088t))
amistre64
  • amistre64
385/17 = e^.088t
amistre64
  • amistre64
ln(385/17) = .088t

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

amistre64
  • amistre64
ln(385/17)/.088 = t
amistre64
  • amistre64
ln(385 / 17) / .088 = 35.4548863 is what google gives me
anonymous
  • anonymous
A = P*e^(rt) 38,500 = 1700e^(0.088t) (38,500/1,700) = e^(0.088t) 0.088t = ln(38,500/1,700) t = (1/0.088)*ln(38,500/1,700) t≈35.45

Looking for something else?

Not the answer you are looking for? Search for more explanations.