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July 29, 2014

July 29, 2014

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

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 -
**Reiny**, Monday, February 13, 2012 at 6:09pmYour 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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