Raymond B. answered 06/01/22
Math, microeconomics or criminal justice
80K at 7% compounded continuously
A = 80e^.07t where t = years
A = 70(1+ .1/4)^4t = 70(1.025)^4t
set them equal
80e^.07t = 70(1.025)^4t
solve for t
UCAN A.
asked 06/01/22Investment A is currently worth $80,000 and is growing at a rate of 7% per year compounded continuously. Investment B is currently worth $70,000 and is growing at a rate of 10% per year compounded quarterly. Determine how long it takes until the two investments have the same value
Raymond B. answered 06/01/22
Math, microeconomics or criminal justice
80K at 7% compounded continuously
A = 80e^.07t where t = years
A = 70(1+ .1/4)^4t = 70(1.025)^4t
set them equal
80e^.07t = 70(1.025)^4t
solve for t
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