Precalculus (6th Edition) Blitzer

Published by Pearson
ISBN 10: 0-13446-914-3
ISBN 13: 978-0-13446-914-0

Chapter 3 - Review Exercises - Page 514: 84

Answer

$14.6$ years

Work Step by Step

The formula for continuously compound interest is given by : $ A= Pe^{rt}$ Plug in the given data. $150,000=(50,000) e^{0.75t}$ or, $3 =e^{0.75t}$ Take the natural log of each side. $\ln 3 =0.75 t \implies t \approx 14.6$ years
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