A Company Earns a Continuous Annual Rate of 11% of Its

question 32

Short Answer

A company earns a continuous annual rate of 11% of its net worth. At the same time, it has expenses of 6.2 million dollars per year. If the company's net worth at time t = 0 is 50 million, how many years will it take to go bankrupt? Round to the nearest year.

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Definitions:

Language Acquisition Device

A hypothetical module proposed by Noam Chomsky that suggests humans have an innate ability to acquire language.

Grammar

The set of structural rules that governs the composition of clauses, phrases, and words in any given natural language.

Infant Mortality

involves the death of young children under the age of one, often used as an indicator of a country's health care quality.