Mary deposited $350 in a bank account that promises 2.8 percent interest compounded continuously. approximately how many years will it take to reach a balance of $500?

The time taken to reach the balance is approximately 13 years.                

Step-by-step explanation:

Given : Mary deposited $350 in a bank account that promises 2.8 percent interest compounded continuously.

To find : How many years will it take to reach a balance of $500?

Solution :

The formula of compounded continuously is

Where, A is the amount A=$500

P is the principal P=$350

r is the interest rate r=2.8%=0.028

t is the time in year.

Substitute the values in the formula,

Taking log both side,

The time taken to reach the balance is approximately 13 years.

55.44 inches

step-by-step explanation:

part a. assuming a perfectly linear relationship, we can find the slope from the first two data points.

slope = m = (change in rainfall)/(change in years)

= (61.80 -62.33)/(2005 -2004) = -0.53/1 = -0.53

then the point-slope form of the equation of the line can be written as

y = m(x -h) +k . . . . . m = -0.53, (h, k) = (0, 62.33)

y = -0.53x +62.33 . . . x = years after 2004

part b. in 2017, x = 2017 -2004 = 13. then the predicted rainfall is

y = -0.53·13 +62.33 = 55.44 . . inches

the predicted rainfall in 2017 is 55.44 in.