State the compounding continuously formula

Reference no: EM13201096

1. A woman deposits $50,000 in a savings account with 4% continuously compounded interest. How many years must she wait until the balance has doubled? Use the Compounding continuously formula and show the steps involved in getting the solution.

2. True or false: The function " f(x) = 3^x " grows three times faster than the function " g(x) = x ". Explain. It may help you to compare the graphs of these two equations in order to reach an answer.

Reference no: EM13201096

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