Explanation Given: The amount doubles from $ 1000 in 3 years of time. Formula used: The formula for amount after a t is given as follows: A = P e r t Where, P is the principal amount, r is the rate of interest and the t is the time period. Calculation: Compute the formula: A = P e r t for “r” A = P e r t Divide both the sides by “ P ” A P = P e r t P A P = P e r t By using the general rule of logarithm function, the above function results as below: A P = P e r t r t = ln ( A P ) Divide both the sides by “ t ” r t t = ln ( A P ) t r = ln

6th Edition

ISBN: 9780321916600

Author: Mark Dugopolski

Publisher: PEARSON

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Chapter 4.2, Problem 127E

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To calculate: The equation A=Pert for “r” & the annual rates compounded continuously for which the amount grows from $1000 to double ($2,000) in 3 years of time.

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Chapter 4.2, Problem 126E

Chapter 4.2, Problem 128E

Chapter 4 Solutions

College Algebra (6th Edition)

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The equation A = P e r t for “ r ” & the annual rates compounded continuously for which the amount grows from $ 1000 to double ( $ 2 , 000 ) in 3 years of time.

Solution Summary: The author calculates the equation A=Pert for " r" and the annual rates compounded continuously for which the amount grows from £1000 to double (

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To calculate: The equation A=Pert for “r” & the annual rates compounded continuously for which the amount grows from $1000 to double ($2,000) in 3 years of time.

Want to see the full answer?

Chapter 4 Solutions

The equation A = P e r t for “ r ” &amp; the annual rates compounded continuously for which the amount grows from $ 1000 to double ( $ 2 , 000 ) in 3 years of time.

Solution Summary: The author calculates the equation A=Pert for " r" and the annual rates compounded continuously for which the amount grows from £1000 to double (

Concept explainers

Videos

To calculate: The equation A=Pert for “r” & the annual rates compounded continuously for which the amount grows from $1000 to double ($2,000) in 3 years of time.

Want to see the full answer?

Chapter 4 Solutions

The equation A = P e r t for “ r ” & the annual rates compounded continuously for which the amount grows from $ 1000 to double ( $ 2 , 000 ) in 3 years of time.