Asked by carol

using continous compound interest formula to find the indicated value

A= 99000
P= 72466
R= 7.8%
T= ?

Answers

Answered by MathMate
Continuous compound interest formula:
A=Pe<sup>RT</sup>
to find t, take log (natural log) on both sides
ln(A)=ln(P)+RT
Solve for T (about 4 years)
R should be written as a fraction (0.078)
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