SOLUTION: Still trying to help my son with his homework. Here it is. Bill needs $4000. If he has $1000, how long should he invest his money in and account compounded continuously at a r

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Question 733352: Still trying to help my son with his homework. Here it is.
Bill needs $4000. If he has $1000, how long should he invest his money in and account compounded continuously at a rate of 9.2%?
A=4000
P=1000
T=?
r=.092
4000=1000e^(.092)(t)
that is a formula that he gave me but I don't know how to get the "t" by itself. Help please! Thanks.
Answer by Edwin McCravy(20060)   (Show Source): You can put this solution on YOUR website!
4000 = 1000e(.092)(t)

Divide both sides by 1000

   4 = e(.092t)

Use the definition of a natural logarithm which is:

A = eC is equivalent to the equation C = ln(A)
where A = 4 and C = .092t

   ,092t = ln(4)

       t = 

       t = 15.06841697 years or about 15 years

Edwin
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