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    Compound interest and straight lines

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    1. If a person has $100 to invest at 5% per annum compounded monthly; how long will it be before she has $150? If the compounding is continuous, how long will it be?
    A) Compounding monthly, it will be about ___ years before the person has $150. Round answer to 2 decimal places as needed.
    B) Compounding continuously, it will be about ___ years before the person has $150. Round answer to 2 decimal places as needed.

    2. Find the equation of the line with the given properties. Express the equation in general form or slope-intercept for perpendicular to the line -7x +y - 48 and contains point (-7, -2). The equations of the line is _______.

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    Solution Preview

    1. If a person has $100 to invest at 5% per annum compounded monthly; how long will it be before she has $150? If the compounding is continuous, how long will it be?

    P = $100
    A = $150
    r = 5% = 0.05

    Time t in ...

    Solution Summary

    This solution provides step by step answers to two basic algebra problems: one problem of compound interest and a problem of straight line are solved.

    $2.19