An amount of money deposited in a savings account grows at a rate proportional to the amount present. (It can be shown that an amount of money grows in this manner if it earns interest compounded continuously.) Suppose $50,000 is deposited in a fixed account earning interest at the rate of 8%/year compounded continuously.
?
What is the accumulated amount after 6 yr? Round the answer to the nearest cent.
?
$__________
?
How long does it take for the original deposit to double in value? Round the answer to the nearest tenth, if necessary.
?
__________ yr

What will be an ideal response?


80,803.72; 8.70

Mathematics

You might also like to view...

A country has four states. Suppose the population of State 1 is P1, the population of State 2 is P2, the population of State 3 is P3, and the population of State 4 is P4. Suppose also that the total number of seats in the legislature is M and the standard divisor is D.If J is the modified divisor used for Jefferson's method, then

A. J is always greater than or equal to D. B. J is always less than or equal to D. C. J can be less than, equal to, or greater than D. D. J is always equal to D. E. none of these

Mathematics

Factor P(x) into linear factors given that k is a zero of P.P(x) = 3x3 + 22x2 + 37x + 10; k = -5

A. P(x) = (x - 5)(x + 2)(3x - 1) B. P(x) = (x - 5)(x - 2)(3x - 1) C. P(x) = (x - 5)(x + 2)(3x + 1) D. P(x) = (x + 5)(x + 2)(3x + 1)

Mathematics

Perform the indicated operation. Simplify if possible. + 

A.
B. 3x + 11
C.
D.

Mathematics

Solve.A saline solution has 1 parts salt to 10 parts water by weight. What is the number of ounces of salt in 132 ounces of the solution. 

A. 1 ounces B. 12 ounces C. 120 ounces D. 11 ounces

Mathematics