Question 138088: Hi,
I have the answer to this problem, but I did not solve it algebraically. Can you help me with how it would be solved through algebra? Here is the problem:
If a bank compounds continuously, then the formula used is A=Pe^rt
where e is a constant and equals approximately 2.7183, P = $3000 and r=6%, how long will it take (t) to double the P? In other words, if A=6000, P=3000, e= 2.7183 and r=6%, solve for t
Answer by scott8148(6628)   (Show Source):
You can put this solution on YOUR website! dividing by P (3000) __ .5=e^(.06t)
taking natural log __ ln(.5)=.06t
dividing by .06 __ [ln(.5)]/.06=t
e is the base for natural logs
|
|
|
