Compound Interest $7000 is invested in an account at interest rate r, compounded continuously. Find the time (in years) required for the amount to double when r = 8.5% and when r = 3.5%. (Round your answers to two decimal places.) r = 8.5% yr r = 3.5% yr Are the times required for the investments above to quadruple twice as long as the times for them to double? Give a reason for your answer. Since In(4) = · In(2), the time it takes for the investments to quadruple is ---Select-- v the time it takes for them to double. Verify your answer algebraically. Find the time it takes for the investments to quadruple at each rate. (Round your answers to two decimal places.) r = 8.5% yr r = 3.5% yr
Compound Interest $7000 is invested in an account at interest rate r, compounded continuously. Find the time (in years) required for the amount to double when r = 8.5% and when r = 3.5%. (Round your answers to two decimal places.) r = 8.5% yr r = 3.5% yr Are the times required for the investments above to quadruple twice as long as the times for them to double? Give a reason for your answer. Since In(4) = · In(2), the time it takes for the investments to quadruple is ---Select-- v the time it takes for them to double. Verify your answer algebraically. Find the time it takes for the investments to quadruple at each rate. (Round your answers to two decimal places.) r = 8.5% yr r = 3.5% yr
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Compound Interest $7000 is invested in an account at interest rate r, compounded continuously.
Find the time (in years) required for the amount to double when r = 8.5% and when r = 3.5%. (Round your answers to two decimal places.)
r = 8.5%
yr
r = 3.5%
yr
Are the times required for the investments above to quadruple twice as long as the times for them to double? Give a reason for your answer.
Since In(4) =
· In(2), the time it takes for the investments to quadruple is ---Select--- v the time it takes for them to double.
Verify your answer algebraically. Find the time it takes for the investments to quadruple at each rate. (Round your answers to two decimal places.)
r = 8.5%
yr
r = 3.5%
yr
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