SOLUTION: Gabriella is going to invest $45,000 and leave it in an account for 9 years. Assuming the interest is compounded continuously, and earns 5.5%. How long would be required in order f

Question 1154466: Gabriella is going to invest $45,000 and leave it in an account for 9 years. Assuming the interest is compounded continuously, and earns 5.5%. How long would be required in order for Gabriella to end up with $74,000?
Answer by ikleyn(52908) (Show Source): You can put this solution on YOUR website!
.


74000 = 


 = 


1.64444 = 


Take the natural logarithm from both sides


ln(1.64444) = 0.055t


t =  =  = 9.043 years.      ANSWER

Solved.

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