For these problems, use this formula for compounding interest continuously. Round answer to 2 decimal places. A=Pe^rt Find the time it takes for $8,700 to double when invested at an annual interest rate of 3%, compounded continuously. years? Find the time it takes for $870,000 to double when invested at an annual interest rate of 3%, compounded continuously. Years?
For these problems, use this formula for compounding interest continuously. Round answer to 2 decimal places. A=Pe^rt Find the time it takes for $8,700 to double when invested at an annual interest rate of 3%, compounded continuously. years? Find the time it takes for $870,000 to double when invested at an annual interest rate of 3%, compounded continuously. Years?
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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For these problems, use this formula for compounding interest continuously.
Round answer to 2 decimal places.
A=Pe^rt
Find the time it takes for $8,700 to double when invested at an annual interest rate of 3%, compounded continuously.
years?
Find the time it takes for $870,000 to double when invested at an annual interest rate of 3%, compounded continuously.
Years?
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