(a)
The time for money to get double if invested at rate r compounded continuously.
(a)
Answer to Problem 46E
The time required to double the money is
Explanation of Solution
Given:
The money invested compounded annually.
Calculation:
The formula to calculate compound interest is:
Where:
A is the amount
P is the principal amount.
R is the rate.
T is the time for which the money is invested.
Hence, the time required for money to get double is:
Conclusion:
The time required to double the money is
(b)
Graph the functions.
(b)
Answer to Problem 46E
The given functions are graphed.
Explanation of Solution
Given:
Calculation:
Conclusion:
The given functions are graphed.
(c)
The reason for use of two rules of thumb for computation.
(c)
Answer to Problem 46E
The rule gives the best approximate answer.
Explanation of Solution
Given:
Calculation:
The values obtained are very close to each other and the answer is better. Therefore, this rule is best.
Conclusion:
The rule gives the best approximate answer.
(d)
The time at which the money gets double at
(d)
Answer to Problem 46E
The time at which the money gets double at
Explanation of Solution
Given:
Calculation:
The actual time takes:
The approximate time takes:
(e)
The rule needs to be find in order to calculate the time required to triple the money.
(e)
Answer to Problem 46E
The time at which the money gets triple is
Explanation of Solution
Given:
Calculation:
Chapter 6 Solutions
CALCULUS:GRAPHICAL,...,AP ED.-W/ACCESS
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning