Sandy invested $2,500 in a corporate bond that pays 9% interest compounded continuously. How long will it take for Sandy's investment to triple? Which equation correctly shows the information from the problem substituted into the equation?

Question

anonymous · Answer

A. 2500=7500e^(.09t)
B. 7500=2500e^(9t)
C. 7500=2500e^(.09t)
D. 2500=7500e^(9t)

anonymous · Answer

Is the answer C?

anonymous · Answer

$$A=Pe ^{decimal x Time}$$

anonymous · Answer

so yes! good job

anonymous · Answer

Thank you! So now it says "Divide both sides of the equation by 2,500. What is the result?" So far I have 3=e^(.09t)

anonymous · Answer

Wait so I got the right answer: 3=e^(.09t). Now it says to rewrite the exponential equation 3=e^(.09t) in logarithmic form. @RaeDeSol

anonymous · Answer

okay. so...... have you worked with natural logs before?

anonymous · Answer

I think so but I don't even know how to plug them in my calculator :/

anonymous · Answer

thats okay because we dont need a calculator to put something in logarithmic form.

anonymous · Answer

Oh alright then!

anonymous · Answer

let me write it out a take a picture because i cant work that equation button on here

anonymous · Answer

Ok

anonymous · Answer

when it says logarithmic form, does your teacher want the variable alone or what?

anonymous · Answer

I'm not sure... sorry... In the next question thought it says Use your calculator to solve the equation Ln3=.09t. soooo is that in logarithmic form?

anonymous · Answer

attachment

anonymous · Answer

so then to solve for t..... (ln(3))/.09

anonymous · Answer

what does your calculator look like... maybe i can help you figure out how to use it

anonymous · Answer

Is the correct answer 12.21?

anonymous · Answer

YES! Great.

anonymous · Answer

Thank you so much!!!!

anonymous · Answer

Your welcome. you hardly needed me though