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anonymous
 4 years ago
How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously? can some show me how to set this problem into this equation A=Pe^rt, please!
anonymous
 4 years ago
How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously? can some show me how to set this problem into this equation A=Pe^rt, please!

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Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1\[4000=2000e ^{.0625t}\]

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1\[\frac{\ln2}{.0625}=t\]

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0can you please give me a crash course on what you did, Please...

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Did you understand how the values were substituted into the equation?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1A is the amount which was determined to be $4000 because the problem asked how long it would take a $2000 investment to double.

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1If $2000 doubles, it will then be $4000 would you agree?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1So the problem is really asking "how long will it take $2000 to turn into $4000"

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0what does the e stand for?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1The e is a frequently used mathematical constant. It doesn't stand for anything. It is sort of like pi. Just a commonly used constant. It is part of the formula just like pi is when you write

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1You don't replace pi with anything and you don't replace e with anything.

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0can you help me figure out another problem but let me do it and maybe you can coach me.

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1It's numerical value (if you must know) is 2.718281828...

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0What rate of interest compounded continuously is needed for an investment of $500 to grow to $900 in 10 years?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1What are you trying to find?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Divide both sides by 500

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Now when you take the natural log of both sides it should look like this: \[\ln 1.8=\ln e ^{10r}\]

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Now bring the exponent down using the third law of logs and get this

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1But of course ln e = 1 so we have:

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1So just divide both sides by 10 and you are done

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1\[\frac{\ln 1.8}{10}=r=.05878=5.88 %\]

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Did you take the natural log of 1.8 before you divided by 10?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Do you now how to do that?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1You do understand that it says ln 1.8 divided by 10?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Do you have a scientific calculator?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Can you find the ln button?

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1It's probably right next to the log button

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0yes i just pressed it and got the same as you did do i now dive that by 10

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1Now multiply by 100 to change it to percent.

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0got it you just answered my question!! thank you so much Mertsj

Mertsj
 4 years ago
Best ResponseYou've already chosen the best response.1You're welcome and good luck. Isn't learning fun???!!!

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0yeah your the best!!!!!
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