Thursday

August 21, 2014

August 21, 2014

Posted by **Carla** on Friday, July 27, 2012 at 12:33am.

(a) Determine, to the nearest dollar the amount of money she will have after 5 years.

(b) Determine how many years, to the nearest year, it will take for her investment to have a value of $10,000.

- algebra -
**Damon**, Friday, July 27, 2012 at 4:32amr = .06

A = 3850 * e^(.06*5)

A = $ 5197

b)

10,000 = 3850 * e^(.06 t)

ln ( 2.597) = .06 t

t = 16

**Related Questions**

math - The amount of money in an account with continuously compounded interest ...

algebra - The amount of money in an account with continuously compounded ...

algebra 2 - The amount of money in an account with continuously compounded ...

algebra 2 - What will be the amount in an account with initial principal $6000 ...

algebra II - What will be the amount in an account with initial principal $6000 ...

algebra - A continuously compounded account starts with $1500 in principal. The...

Calc - How much money will we have in 6 months if we invest $1000 into an ...

calculus - The proprietor of Carson Hardware Store has decided to set up a ...

Algebra - The question is: find the value of 500 dollars after 4 years invested ...

Algebra - Please Help! How much money, invested at an interest rate of r% per ...