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anonymous

  • 5 years ago

How long would 1 cent grow to 1000000 if compounded daily (365 times in one year)?? I know the formula is A=P(1+r/n)squared(n*t)..

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  1. dumbcow
    • 5 years ago
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    whats the interest rate

  2. anonymous
    • 5 years ago
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    i think thats what im supposed to find..

  3. dumbcow
    • 5 years ago
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    then you need to know time, how long it takes can't solve one without the other

  4. anonymous
    • 5 years ago
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    oh no we are trying to find time... it says the inerest rate is 365? i think

  5. dumbcow
    • 5 years ago
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    no 365 is our n, num of times interest is credited in a year

  6. dumbcow
    • 5 years ago
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    you have the right formula, however we don't know r or t

  7. dumbcow
    • 5 years ago
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    there must be more info to the problem

  8. anonymous
    • 5 years ago
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    its 10 %

  9. dumbcow
    • 5 years ago
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    ok 1,000,000 = (1+.1/365)^365t 1 + .1/365 = 1.000273973 use logs log(1,000,000)/log(1.000273973) = 365t 50433.448 = 365t 138.17 = t takes about 138 yrs and 2 months

  10. anonymous
    • 5 years ago
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    omgee i get it :)11 thank you!!

  11. dumbcow
    • 5 years ago
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    :)

  12. anonymous
    • 5 years ago
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    8. The following graph shows data for a particular SUV driven on city streets. Suppose a compact car can travel twice as far as the SUV on the same amount of gas. Answer the following questions. Please show all of your work. At what rate does the SUV consume gas?

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