Question

Calculus
http://gyazo.com/48f517bb087dc15c0dbcd1d612d27024

Answer 1

Is it A=Pe^-rt
7000e^-(0.054*2)?

Answer 2

No it is not :(

Answer 3

@ranga when you're done helping other people

Answer 4

Compounded continuously at 5.4%.
The formula is P = P0 * e^(rt) where P0 is initial investment, r is rate of interest in decimal and P is the current amount and t is time in years.
P/P0 = e^(.054t)
To double the investment, P/P0 = 2
2 = e^(.054t)
Take natural log on both sides:
ln(2) = 0.054t
t = 0.054 / ln(2) = 12.8 years.

Answer 5

I already got it but thank you!:) I have another question