Post a New Question

Algebra II

posted by on .

How long would it take to earn $7000 on a 3500 dollar investment at rate of 7.8% compounded continuously?
Would it be something like this:
7000=3000*(1+0.078)/? not sure about what to divided by???

Help-I'm really confused!!!!

  • Algebra II - ,

    dx/dt =.078 x
    dx/x = .078 dt
    ln x = .078 t
    x =X e^(.078 t)

    7000 = 3500 e^(.078 t)
    ln 2 = .078 t
    t = .693/.078 = 8.9 years

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question