SOLUTION: Aeris invest $100 compounded continuously. After 2 years, her account balance is $300. How long will it take for her account balance to be $24,300 and how long did it take for you

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Question 1140297: Aeris invest $100 compounded continuously. After 2 years, her account balance is $300. How long will it take for her account balance to be $24,300 and how long did it take for you account balance to double?
Answer by ikleyn(52786)   (Show Source): You can put this solution on YOUR website!
.
Notice that the original deposit of 100 dollars triples in 2 years till 300 dollars.


It will triples further every 2 years.


Also notice that   =  = 81 = .


It means that after getting $300, this account needs four 2-years periods to grow in  times.


Starting from $300, after 2 years the account will be $900.


After another 2 years, the account will be  $2700.


After another 2 years, the account will be $8100.


Finally, after another 2 years, the account will grow to $24300.


ANSWER.  In 8 years, the amount at the account will grow in 81 =  times from $300 to $24300.

Solved, answered, explained and completed.


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