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Business, 05.10.2019 00:10 MaxHunter8377

Zeno’s bank has an interest rate a proportional to the deposit amount, a = kx, compounded continuously. the interest rate is 100% per year on balances of $1, and similarly for all values, including fractions of cents. (for example, the rate is 150% per year when the balance reaches $1.50.) zeno deposits $1 at time t = 0, with no further deposits or withdrawals. at what time does his money double? increase by a factor of 4, 8, etc? what happens at time t = 1?

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Zeno’s bank has an interest rate a proportional to the deposit amount, a = kx, compounded continuous...

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