Suppose that $2500 is invested in a account that pays interestcompounded continu

Question

Suppose that $2500 is invested in a account that pays interestcompounded continuously. Find the amount of time that it would takefor the account to grow to $4000 at 5.75%.

I got this question wrong on the quiz, according to the computerthe answer is 8.2 years, i just don't know how they get thisanswer. can any one help ???

Suppose that $2500 is invested in a account that pays interestcompounded continuously. Find the amount of time that it would takefor the account to grow to $4000 at 5.75%.

I got this question wrong on the quiz, according to the computerthe answer is 8.2 years, i just don't know how they get thisanswer. can any one help ???

Suppose that $2500 is invested in a account that pays interestcompounded continuously. Find the amount of time that it would takefor the account to grow to $4000 at 5.75%.

I got this question wrong on the quiz, according to the computerthe answer is 8.2 years, i just don't know how they get thisanswer. can any one help ???

Explanation / Answer

When the interest is compounded continuously, you usethis formula: A = Pe^(rt)

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