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find the amount of time in years that it will take an investment of $1000 to double at 8%interest compounded continuosly. (hint A=Pe^rt
 one year ago
 one year ago
find the amount of time in years that it will take an investment of $1000 to double at 8%interest compounded continuosly. (hint A=Pe^rt
 one year ago
 one year ago

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cshalveyBest ResponseYou've already chosen the best response.2
Hi @CesarLovesNadia  so you know the formula you need to use, correct? Are you able to put them together?
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
no im not thats why its here i need help
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
No problem, so the interest formula for compound interest is what you have listed. So, A is the number we are looking for, we have the rest. So, A = P (principal amount) x e (Napier's #, roughly 2.7183) ^ r (interest rate) x t (number of years). So, how about you try and put in the numbers you know, and I can help you with anything you don't understand?
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
For the 'e'  your calculator will actually have this number built in, so don't worry about it for now :)
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
so whats the answer?
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
how many years would it be?
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
@CesarLovesNadia  You have to learn how to do these problems  I'm not here to give you the answer. I WILL help you get there though, I promise. Can you try and put the variables from the word problem into the equation now?
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
i diid i put 1000*2.7183^(0.08*1)
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
it came out to be like 1000 something
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
No worries  and good start. The problem states that you need to find the time, t, for your money to double. Therefore, you know that A = 2xP = 2000. So, your equation looks like this: \[2000 = 1000*e^(.08*t)\]
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
the answer would be 2000 then?
 one year ago

ParthKohliBest ResponseYou've already chosen the best response.0
Colm, it'd be \(2000 = 1000 \times e^{(0.8 \times t)}\) Sorry for interfering, guys.
 one year ago

ParthKohliBest ResponseYou've already chosen the best response.0
@CesarLovesNadia You should appreciate Colm for helping you :) P.S. He's the major part behind OpenStudy ;)
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
Heh, that's what I was writing  guess it showed up wrong. And no, @CesarLovesNadia you need to find the TIME, t in this equation, right? "find the amount of time in years"
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
but what is it then?
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
just help me and give me the answer
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
@CesarLovesNadia  sorry, but you should read the Code of Conduct (http://openstudy.com/codeofconduct)  we don't just give the answer. I can help you understand it though :) So now, you have to solve for T in that equation I and Parth just gave you. Can you start that?
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
so would it be 2?
 one year ago

ParthKohliBest ResponseYou've already chosen the best response.0
Heh—don't give me the credit. Keep it on, guys!
 one year ago

CesarLovesNadiaBest ResponseYou've already chosen the best response.0
help me with another one
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
Given your equation 2000 = 1000 x e^(.08xT) We divide both sides by 1000 to give us this: 2 = e^(.08xT)
 one year ago

ParthKohliBest ResponseYou've already chosen the best response.0
Wolfram time! http://www.wolframalpha.com/input/?i=e%5E%280.8t%29+%3D+2
 one year ago

ParthKohliBest ResponseYou've already chosen the best response.0
Your Math is pretty good, Colm!
 one year ago

cshalveyBest ResponseYou've already chosen the best response.2
@CesarLovesNadia  you'll probably want to use that link to get the real answer. Hint  it's not two.
 one year ago
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