Solving Exponential Applications

How many years will it take $3500 to triple if it is invested at 5.64% compounded continuously? Round to the nearest whole year.

To solve 24000 = 12000e^0.03t , what would the next step be?

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You invest $15,000 with an interest rate of 8% per year compounded continuously. Using A(t)=Pe^{rt}, what function below would model the investment?

You invest $15,000 with an interest rate of 8% per year compounded continuously. The function A\left(t\right)=15000e^{0.08t} models the situation. What set up will allow you solve for how long it will take for the investment to grow to $45,000 ?

• 45000=15000e^{0.08t}

• A\left(3\right)=15000e^{0.08\left(3\right)}

• A\left(45000\right)=15000e^{0.08\left(45000\right)}

• 3=15000e^{0.08t}

• 19

• 17

• 38427

• 38425

• 38

You invest $5,000 into a savings account that has an interest rate of 5% compounded continuously. In how many years will there be $12000 in the account?

• 12.375 Years

• 177.073 Years

• 0.175 Years

• 17.509 Years

What would the next step in solving 3=e^{0.08t} be ?

• Divide both sides by 3

• Divide both sides by e

• Take the natural log of both sides

• Rewrite the exponent 0.08t as the coefficient of "e"

• Subtract e to both sides

Fayette Bank offers you 3.8% interest compounded annually. How long will it take for your money to triple if you use Fayette Bank?

• 17 years and 10 months

• 29 years and 2 months

• 28 years and 11 months

• 29 years and 6 months

The poplulation of Eden is growing continuously at a rate of 1.9%. If the current population is 15,230, about how many years to reach 20,000?

• 31

• 2

• 15

• 68