Question

2P=Pe^rt.
a. Solve the equation for t in terms of r.
b. How long does it take for an investment to double in value compounding continuously if the annual interest rate is 7%?
Round your answer to the nearest tenth of a year.
c. Solve the equation for r in terms of t.
d. What interest rate is necessary for an investment to double in value in 7 years if interest is compounded continuously?
Round your answer to the nearest tenth of a percent.

Answer 1

I got some of it, however, I don't know if it's correct.

Answer 2

@matthew120

Answer 3

hmmm

Answer 4

what one do u think it is

Answer 5

I don't know if I'm doing it correctly, and it's 4 different steps, not multiple choice.

Answer 6

i bleive its a not 100% ok

Answer 7

believe

Answer 8

so far what i got is:
a) t = ln(2)/r + ln(P)/r
b) 14.3
c) r = ln(2)/t + ln(P)/t
d) 14%

Answer 9

I don't know if any of that is correct.

Answer 10

rt - every two are exponents ?

Answer 11

or just r is exponent ?

Answer 12

rt are exponents

Answer 13

2P = P*e^(rt) in this way ?

Answer 14

yes and e is actually a base of natural logarithms. it equals like 2.71828. I have to look up the exact answer

Answer 15

ok Sherri but like a first step you can divide both sides by P - yes ?

Answer 16

you could

Answer 17

bc there is P on both sides and you need to solve it for t in term of r

ok. ?

Answer 18

Okay, so it cancels the P?

Answer 19

Wait one P has 2

Answer 20

after this

2 = e^(rt) make ln on both sides

2lne = lne^(rt) bc. lne = 1 and so 2lne = 2

lne^2 = lne^(rt) than you see lne are common so this will be equal than these exponents will be equal - so

2 = rt

t = 2/r

Answer 21

so then would you replace r with 0.07 in t = 2/r?

Answer 22

or

r = 2/t

Answer 23

i think yes

Answer 24

for this 7%

Answer 25

so t would be 28.6
and r would be 28%?

Answer 26

i think it so yes

Answer 27

hmmm okay

Answer 28

good luck

bye bye