Monday

December 22, 2014

December 22, 2014

Posted by **Katharine** on Tuesday, November 27, 2012 at 3:10pm.

step by step please!

- math -
**Steve**, Tuesday, November 27, 2012 at 3:34pmwe want

1000e^.06x = 1100(1+.06/365)^(365x)

x = 202,800 years

as for solving the equation, there's no useful symbolic method. Some kind of numeric approximation will probably be needed.

The time seems rather large. Probably because daily compounding is very nearly continuous, and 1100 gets a pretty big head start over 1000.

You sure the interest rates are the same?

**Answer this Question**

**Related Questions**

math - fiona invested $1000 at 6% compounded continuously. at the same time, ...

Algebra - Fiona invested $1000 at 8% compounded continuously. At the same time ...

College Math - Fiona invested $1100 at 8% compound comtinously. At the same time...

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

Algebra - If $32,500 is invested at 69% for 3 years find the future value if the...

algebra - If $32,500 is invested at 69% for 3 years find the future value if the...

math - a) 1150 dollars invested at 9% annual interest rate (compounded yearly) ...

Math - Can someone please double check my answers. 1. What pattern does the ...

math - Can someone please double check my answers. 1. What pattern does the ...

Math - If $8,500 is invested at 6% compounded continuously, how long will it ...