Question

PLEASE HELP!!!

Suppose $(10x + 40) is deposited into a savings account that earns x% interest, compounded
continuously. After some amount of time, the balance in the account becomes triple the starting
balance.

(a) Find the amount of interest earned.

(b) Find the amount of time needed to triple the balance.

Answer 1

(a) The amount of interest earned is $30.

(b) The amount of time needed to triple the balance is ln(3) / (0.1x) years.

Explanation: