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With continuous compounding, a principal of P dollars accumulates to an amount A given by the equation
A = Pe^rt
where r is the interest rate and t is the time in years.
a) suppose you start with a principal of $1000 and an interest rate of 7%. how much work will you have in ten years
b)suppose you start with a principal of $1000 and an interest rate of 75. how long will it be until you have $2000? round to the nearest tenth of a year. PLEASE HELP

Respuesta :

a)

[tex]\bf \qquad \textit{Continuously Compounding Interest Earned Amount}\\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$1000\\ r=rate\to 7\%\to \frac{7}{100}\to &0.07\\ t=years\to &10 \end{cases} \\\\\\ A=1000e^{0.07\cdot 10}[/tex]

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