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shaylynnwalls1
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Joe deposits $1,500 in an account that pays 3% annual interest compounded continuously.
a. How much will Joe have in his account after 5 years?
b. How long will it take Joe to double his money? Use natural logarithms and explain your answer.
 one year ago
 one year ago
shaylynnwalls1 Group Title
Joe deposits $1,500 in an account that pays 3% annual interest compounded continuously. a. How much will Joe have in his account after 5 years? b. How long will it take Joe to double his money? Use natural logarithms and explain your answer.
 one year ago
 one year ago

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shaylynnwalls1 Group TitleBest ResponseYou've already chosen the best response.1
I will give you a medal and become a fan! Need step by step instructions
 one year ago

SamuelAlden917 Group TitleBest ResponseYou've already chosen the best response.1
Need a minute.
 one year ago

SamuelAlden917 Group TitleBest ResponseYou've already chosen the best response.1
Thats a cute cat!
 one year ago

SamuelAlden917 Group TitleBest ResponseYou've already chosen the best response.1
he first answer is $1,725
 one year ago

SamuelAlden917 Group TitleBest ResponseYou've already chosen the best response.1
We seem to be missing an important word in the original problem statement. "CONTINUOUSLY." a) 1500⋅e0.03⋅5=1742.75 b) 1500⋅e0.03⋅t=2⋅1500=3000 or e0.03⋅t=2 Solving for t t=ln(2)0.03=23.105
 one year ago

SamuelAlden917 Group TitleBest ResponseYou've already chosen the best response.1
That help?
 one year ago

shaylynnwalls1 Group TitleBest ResponseYou've already chosen the best response.1
Yeah, for the first step though, how did you get the answer.
 one year ago
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