Wednesday

April 1, 2015

April 1, 2015

Posted by **Cal** on Sunday, November 3, 2013 at 3:34pm.

a) If $20,000 is invested in this CD, how much will it be worth in 10 years?

Ans: I used the formula A = Pe^(rt) to get the answer $48,848.92

b)How long will it take for the account to be worth $50,000?

I just need help in solving part b) thank you!

- Calculus - Compound Interest -
**Steve**, Sunday, November 3, 2013 at 8:41pmJust solve

20 e^(.0893t) = 50

e^.0893t = 2.5

.0893t = ln(2.5)

t = ln(2.5)/.0893 = 10.26

**Answer this Question**

**Related Questions**

Compound interest - Hello My teacher skipped over this and I have no clue how to...

Calculus Please help! - If 7000 dollars is invested in a bank account at an ...

Calculus :) - If 8000 dollars is invested in a bank account at an interest rate ...

Math - If 3000 dollars is invested in a bank account at an interest rate of 6 ...

Math - How much money should be invested at an annual interest rate of 6.2% ...

compound interest - 1. If you were to place $15,000 in the bank at 3% interest, ...

math - a bank account earns 7% annual interest compounded continuously. you ...

Calculus :) - If 8000 dollars is invested in a bank account at an interest rate ...

mATH - How much money has to be invested at 3.3% interest compounded ...

math - How much money has to be invested at 4.3% interest compounded ...