you parents have $20,000 in the bank for your college education. in how many years can they have the amount of $60,000 to pay for college expends if the annual interest is 6% and it is compounded continuously?
*formula: Q(t)= Q initial e^rt

Question

anonymous · Answer

Q(t)=60,000
Q= 20,000
r=0.06

Divide both sides by 20,000... Then you can ln both sides to get rid of the e.

anonymous · Answer

can you show me how to do that please?

anonymous · Answer

whats the eqation?

anonymous · Answer

60,000 = 20,000e^(0.06t)
3=e^(0.06t)
ln 3=lne^(0.06t)

anonymous · Answer

$$60000 = 20000 e ^{0.06t}$$
$$60000/20000 = 20000/20000 e ^{0.06t}$$
$$3 = e ^{0.06t}$$
$$ln(3) =  0.06t}$$
$$ln(3)/0.06 =  t}$$

anonymous · Answer

so the final answer is ln(3)/0.06 =  t}?

anonymous · Answer

$$t =  ln(3)/0.06$$ yes

anonymous · Answer

my calculator says 18.3

anonymous · Answer

i have a TI-84 graphong calculator and my teacher didnt rlly teach me how to use it. so wheres the ln button?

anonymous · Answer

never mind got it!

anonymous · Answer

:)

anonymous · Answer

I will need one of those graphing calculators for my next sem

anonymous · Answer

what math are you taking atm?

anonymous · Answer

advance calculus and differential equations, starting sept.

anonymous · Answer

sounds scary... >.<