Epa is investing $2500 at 6% per annum, with interest compounded continuously. She wants to come up with a formula that gives the approximate length of time, t in years, that it will take for the investment to become k times as big, i.e. doubling, tripling, etc. (a multiple of k times the original amount). Which one of the following is the correct formula? 10 1- In 0.06 O 0.06 In k 0.06 In(2500 k-2500) 0.06 O O t= 1-

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
icon
Related questions
Question
100%
Epa is investing $2500 at 6% per annum, with interest compounded continuously. She
wants to come up with a formula that gives the approximate length of time, t in years,
that it will take for the investment to become k times as big, i.e. doubling, tripling, etc. (a
multiple of k times the original amount).
Which one of the following is the correct formula?
O
k
[=
In 0.06
0.06
In k
0.06
In(2500 k-2500)
0.06
O
O
O
t=
t
t=
Transcribed Image Text:Epa is investing $2500 at 6% per annum, with interest compounded continuously. She wants to come up with a formula that gives the approximate length of time, t in years, that it will take for the investment to become k times as big, i.e. doubling, tripling, etc. (a multiple of k times the original amount). Which one of the following is the correct formula? O k [= In 0.06 0.06 In k 0.06 In(2500 k-2500) 0.06 O O O t= t t=
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning