SOLUTION: "Stephanie deposited some money in a bank account that earns 5.6% interest compounded continuously. How long will it take to double the amount of money in her account?"
So far I
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-> SOLUTION: "Stephanie deposited some money in a bank account that earns 5.6% interest compounded continuously. How long will it take to double the amount of money in her account?"
So far I
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Question 588675: "Stephanie deposited some money in a bank account that earns 5.6% interest compounded continuously. How long will it take to double the amount of money in her account?"
So far I used the PERT formula to set up the problem, but without a principal amount I am lost as to how I can give an exact amount of time!
I have:
A(t)=Pe^0.56t Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! What it is saying is that she starts with
and ends up with in her account, so
I can say
Divide both sides by
You'll have to calculate this.
All I have is a staples calculator
