a.
To calculate: if invest an amount of money at
a.
Answer to Problem 44E
amount of money is directly proportional to
Explanation of Solution
Given information: John Napier invented logarithms, what happens if invest an amount of money at
Formula used: The amount of money in the account after t year is then
Interest paid according to this formula is said to be compounded continuously. The number r is the continuous Interest rate.
Calculation:
invest an amount of money at
b.
To calculate: Time taken it take for triple money.
b.
Answer to Problem 44E
money will triple in
Explanation of Solution
Given information: John Napier invented logarithms, what happens if invest an amount of money at
Formula used: The amount of money in the account after t year is then
Interest paid according to this formula is said to be compounded continuously. The number r is the continuous Interest rate.
Calculation:
The amount of money in the account after t year is then
Given
c.
To calculate: Money earned in a year.
c.
Answer to Problem 44E
In a year earn
Explanation of Solution
Given information: John Napier invented logarithms, what happens if invest an amount of money at
Formula used: The amount of money in the account after t year is then
Interest paid according to this formula is said to be compounded continuously. The number r is the continuous Interest rate.
Calculation:
The amount of money in the account after t year is then
Given
Money will grow by a factor of e each year which means it increases by
In a year earn
Chapter 7 Solutions
Calculus: Graphical, Numerical, Algebraic: Solutions Manual
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