Compound interest in exercise,$3000 is invested in an account at interest rate r, compounded continuously. find the time required for the amount to (a) double and (b) triple.
r = 0.045

(a) t = 15.40 years

(b) t = 24.41 years

Step-by-step explanation:

The expression that describes continuous compounding is:

The principal (P) is $3,000 invested at a rate r=0.045.

a) The time required for the amount to double (FV =$6,000) is:

a) The time required for the amount to triple (FV =$9,000) is:

it would be:

c.parallelogram.

37/3

step-by-step explanation:

step 1: simplify both sides of the equation.

7x+8(x+

1

4

)=3(6x−9)−8

7x+(8)(x)+(8)(

1

4

)=(3)(6x)+(3)(−9)+−8(distribute)

7x+8x+2=18x+−27+−8

(7x+8x)+(2)=(18x)+(−27+−8)(combine like terms)

15x+2=18x+−35

15x+2=18x−35

tep 2: subtract 18x from both sides.

15x+2−18x=18x−35−18x

−3x+2=−35

step 3: subtract 2 from both sides.

−3x+2−2=−35−2

−3x=−37

step 4: divide both sides by -3.

−3x

−3

=

−37

−3

x=

37

3