Question 31311: For questions 3-4, write the logarithmic equation in exponential form. For example, the exponential form of "log(base 5)25 = 2" is "5^2 = 25".
3. (2 points) log (base 3) 27 = 3
4. (2 points) log {base 125) 25 = 2/3
For questions 5 and 6, recall that, when interest is compounded continuously, the balance in an account after t years is given by
A = Pe^(rt)
where P is the initial investment and r is the interest rate.
5. (5 points) Maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double?
6. (5 points) Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 yr? After 2 yrs?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! 3) 3^3=27
4) 125^(2/3)=25
5)2(600)=600e^(0.0564t)
2= e^(0.0564t)
Take the natural log of both sides to get:
ln 2 = 0.0564t
0.693147...=0.0564t
t=12.2898.. years
6) A=2000e^(0.06) = 2000(1.062)=$2123.67 after one year
A=2000e^(0.06(2))=2000e^(0.12)=$2254.99 after two years
Cheers,
Stan H.
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