If $22,550 is invested at 2.95% compounded continuously, how long will it take to reach $50,000 in the account?
22550(e^(.0295t) = 50000
e^(.0295t) = 2.2172949
.0295t = ln 2.2172949
t = .7962879/.0295 = 26.99
or 27 years
check my arithmetic
e^(.0295t) = 2.2172949
.0295t = ln 2.2172949
t = .7962879/.0295 = 26.99
or 27 years
check my arithmetic