Concept explainers
To find multiple choice. For time it takes the value of the account to triple.
Answer to Problem 49E
It takes 11.1 years of the account to triple. Option (D).
Explanation of Solution
Given information: A bank account earning continuously compounded interest doubles in the value in 7.0 years.
- (A) 4.4 years
(B) 9.8 years
(C) 10.5 years
(D) 11.1 years
(E) 21.0 years
Calculation: The required solution is obtained as,
Using the law of Exponential changes:
We can use the equation,
Substitute and solve:
The account the triples, therefore,
So,
Hence, it take 11.1 years of the account to triple. Option (D).
Chapter 7 Solutions
Calculus 2012 Student Edition (by Finney/Demana/Waits/Kennedy)
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