Asked by akeeno
If $ 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to $ 7500 at 8%?
Answers
Answered by
Reiny
2500 e^(.08t) = 7500
e^(.08t) = 3
take ln of both sides and solve for t
e^(.08t) = 3
take ln of both sides and solve for t
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