math

So I think I have got these down I just really want to double check the answers to these two word questions. Thanks

How long will it take for $9500 to grow to $36,300 at an interest rate of 12.4% if the interest is compounded continuously? Round the number of years to the nearest hundredth.

How long must $4000 be in a bank at 6% compounded annually to become $6757.92? (Round to the nearest year.)

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asked by allison
  1. What did you get?

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    posted by MathMate
  2. 10.81 yrs for the first question

    9 yrs for the second

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    posted by allison
  3. Both answers are correct. Good work!

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    2. 👎 0
    posted by MathMate

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