Thursday
March 23, 2017

Post a New Question

Posted by on Wednesday, May 16, 2012 at 9:20pm.

You invest $1,000 in an account with continously compounding interest of 4% a year. When will your account be worth $1,500 dollars?

  • Algebra - , Wednesday, May 16, 2012 at 10:41pm

    1000 e^(.04t) = 1500
    e^(.04t) = 1.5
    ln (e^(.04t)) = ln 1.5
    .04t = ln 1.5
    t = ln1.5 / .04 = appr 10.1 years

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question