hannah1529
hannah1529 hannah1529
  • 01-10-2020
  • Mathematics
contestada

Continuous Compounding. 25 points, please help.

Continuous Compounding 25 points please help class=

Respuesta :

mathstudent55
mathstudent55 mathstudent55
  • 01-10-2020

Answer:

5) $5005

7) $7737

Step-by-step explanation:

Continuously compounded interest:

[tex] A = Pe^{rt} [/tex]

5)

[tex] 9119.7 = Pe^{0.04 \times 15} [/tex]

[tex] 9119.7 = P(1.8221188) [/tex]

[tex] P = 5005 [/tex]

Answer: $5005

7)

[tex] 29844.9 = Pe^{0.09 \times 15} [/tex]

[tex] 29844.9 = P(3.8574255) [/tex]

[tex] P = 7737 [/tex]

Answer: $7737

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