Sandra earned $8,000.00 from a summer job and put it in a savings account that earns 3% interest compounded continuously. when sandra started college, she had $8,327.00 in the account which she used to pay for tuition. how long was the money in the account? round your answer to the nearest month.

years and months

1 year and 4 months

Step-by-step explanation:

The formula for continuously compounded interest is

A = P x e (r x t)

Where

A represents the future value of the investment after t years.

P represents the present value or initial amount invested

r represents the interest rate

t represents the time in years for which the investment was made.

e is the mathematical constant approximated as 2.7183.

From the information given,

P = 8000

r = 3% = 3/100 = 0.03

A = 8327

Therefore,

8327 = 8000 x 2.7183^(0.03 x t)

8327/8000 = 2.7183^(0.03t)

1.040875 = 2.7183^(0.03t)

Taking log of both sides, it becomes

Log 1.040875 = log 2.7183^(0.03t)

0.0174 = 0.03tlog2.7183

0.0174 = 0.03t × 0.434 = 0.01302t

t = 0.0174/0.01302

t = 1.336

0.336 × 12 = 4.032

Therefore, the money waa in the account for 1 year and 4 months

use the power rule  

( a b ) n = a n b n

to distribute the exponent.

apply the product rule to  

3 x 2 y 3 . ( 3 x 2 ) 2 ( y 3 ) 2

apply the product rule to  

3 x 2 . 3 2 ( x 2 ) 2 ( y 3 ) 2

raise  

3

to the power of  

2 . 9 ( x 2 ) 2 ( y 3 ) 2 multiply the exponents in   ( x 2 ) 2

.

apply the power rule and multiply exponents,  

( a m ) n = a m n . 9 x 2 ⋅ 2 ( y 3 ) 2

multiply  

2   by   2 . 9 x 4 ( y 3 ) 2

multiply the exponents in  

( y 3 ) 2 .

apply the power rule and multiply exponents,  

( a m ) n = a m n . 9 x 4 y 3

⋅

2

multiply  

3   by   2 . 9 x 4 y 6

step-by-step explanation: