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Answer: Interest Find the compound amounts for the deposit

Chapter , Problem 94A

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QUESTION:

Problem 94A

Interest Find the compound amounts for the deposit if interest is compounded continuously.

How long will it take for $1000 deposited at 6% compounded semiannually to double? To triple?

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QUESTION:

Problem 94A

Interest Find the compound amounts for the deposit if interest is compounded continuously.

How long will it take for $1000 deposited at 6% compounded semiannually to double? To triple?

ANSWER:

Solution:-

Step 1 of 4

Given that

We have to find how long will it take for $1000 deposited at 6% compounded semiannually to double? To triple?

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