## coolaidd Group Title You buy a house for $250,000 and it appreciates at a rate of 3% a year. How much will the house be worth after 3 years? Round to the nearest dollar. one year ago one year ago • This Question is Closed 1. tcarroll010 250000(1.03)^3 = 273182 2. coolaidd thanks! I have like 2more questions like this.. you think you can help? 3. tcarroll010 I can tyr! 4. coolaidd 1) Find the amount of time it will take to double an investment of$400 with a rate of 4.5% compounded continuously. Round your answer to the nearest tenth. 2) Find the rate it would take to double an investment of \$600 in 10 years if the rate is compounded continuously. Round your answer to the nearest tenth.

5. coolaidd

@tcarroll010

6. tcarroll010

First, the formula for compounding continuously is: $A = P \times e ^{0.045t}$

7. tcarroll010

$800 = 400 \times e ^{0.045t}$ $2 = e ^{0.045t}$$\ln 2 = \ln e ^{0.045t}$$\frac{ \ln 2 }{ 0.045 } = t$

8. tcarroll010

t = 15.4

9. tcarroll010

For the second one,$1200 = 600 \times e ^{(r)(10)}$ $2 = e ^{10r}$$\ln 2 = \ln e ^{10r}$$\frac{ \ln 2 }{ 10 } = r = 0.0693$

10. coolaidd

Thank you soo soo much!

11. tcarroll010

uw!