Samuel invested $7,800 in an account paying an interest rate of 5 1/2 % compounded continuously. Claire invested $7,800 in an account paying an interest rate of 5 5/8% compounded daily. To the nearest hundredth of a year, how much longer would it take for Samuel's money to double than for Claire's money to double?

0.28 yr  

Step-by-step explanation:

To find the doubling time with continuous compounding, we should look at the formula:

FV = future value, and

PV = present value

If FV is twice the PV, we can calculate the doubling time, t

1. Samuel's doubling time

2. Claire's doubling time

3. Samuel's doubling time vs Claire's

12.603 - 12.323 = 0.28 yr

It would take 0.28 yr longer for Samuel's money to double than Claire's.

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according to this law, when unemployment goes up by 1%, gdp drops by 2%. in the question, unemployment rate goes from 2% to 5%, meaning unemployment goes up by 3%, so the gdp drops by 6%. thus the effect is a drop in gdp by 6%.

step-by-step explanation: