Concept explainers
a.
To Find:
To find the amount of time required for
a.
Answer to Problem 63RE
It takes
Explanation of Solution
Given information:
The given principal amount is
Formula:
Compound interest formula is
The Compound interest formula is
From given we have
Now substituting all the information in the formula,
Taking natural log on both sides,
Therefore, it takes
b.
To Estimate:
To find the amount of time required for
b.
Answer to Problem 63RE
It takes
Explanation of Solution
Given information:
The given principal amount is
Formula:
The amount of money in the account after t years is
Here
Now substituting all the information in the formula,
Taking natural log on both sides,
Therefore, it takes
Chapter 7 Solutions
Calculus 2012 Student Edition (by Finney/Demana/Waits/Kennedy)
Additional Math Textbook Solutions
Precalculus Enhanced with Graphing Utilities (7th Edition)
Precalculus: Concepts Through Functions, A Unit Circle Approach to Trigonometry (4th Edition)
Single Variable Calculus: Early Transcendentals (2nd Edition) - Standalone book
University Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
- 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