I'm having a lot of trouble with my calculus homework. Does anyone know how to work this problem?
Suppose the consumption of electricity grows at 7.6% per year, compounded continuously. Find the number of years before the use of electricity has tripled. Round the answer to the nearest hundredth. http://blackboard.selu.edu/images/spacer.gif
14.46 , 39.47 , 0.14 , 1.45
March 11th 2009, 02:02 PM
ANYBODY??? I figured the answer but am having problems with the formula. I came up with fv=p(1+r/n)^t, and cannot figure out t....my formula looks like this:
March 11th 2009, 03:04 PM
I got 14.55 years - I will post how I did it in a minute - I have to get the equations into this box
Your formula should be ...
a(t) = lim as n approaches infinity ( a0(1+ r/n)^(nt) )
where a0 is the initial amount of power used, r is the rate of growth (.076) and n is the number of times it is compounded
Then you use L'Hopital's rule to find that the above function is the same as this