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Delbert invests $2500 in an account that pays 5.5% interest compounded continuously. a. Write a formula A(t) that gives the amount of money in Delbert's account after t years. A(t)=â—» b. How long will it take for the amount of money in Delbert's account to double?

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mathstudent55

Answer:

Formula: A(t) = 2500e^(0.055t)

Time to double: 12.60 years

Step-by-step explanation:

A = Pe^(rt)

Formula:

A(t) = 2500e^(0.055t)

5000 = 2500e^(0.055t)

2 = e^(0.055t)

ln 2 = 0.055t

t = (ln 2)/0.055

t = 12.60

Time to double: 12.60 years

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