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Posted by on Monday, February 13, 2012 at 5:58pm.

Exponential decay problem

After how many years will $100 invested at an annual rate of 6% compounded continuously be worth at least 450$? (Use the formula An=A0e^rt)

  • Math - , Monday, February 13, 2012 at 6:09pm

    Your problem is one of "growth" , not decay

    100(e^.06t = 450
    e^.06t =4.5
    .06t lne = ln 4.5
    .06t = ln 4.5
    t = ln 4.5 / .06 = 25.068 years

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