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April 19, 2014

Homework Help: algebra

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

Hannah invests $3850 dollars at an annual rate of 6% compounded continuously, according to the formula A=Pe^rt, where A is the amount, P is the principal, e=2.718, r is the rate of interest, and t is the time, in years.
(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.

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