SOLUTION: THE AMOUNT A IN AN ACCOUNT AFTER t YEARS FROM AN INITIAL PRINCILE P INVESTED AT AN ANNUAL RATE r COMPOUNDED CONTINUOUSLY IS GIVEN BY A=Pe^rt WHERE r IS EXPRESSED AS A DECIMAL. HOW

Question 64971: THE AMOUNT A IN AN ACCOUNT AFTER t YEARS FROM AN INITIAL PRINCILE P INVESTED AT AN ANNUAL RATE r COMPOUNDED CONTINUOUSLY IS GIVEN BY A=Pe^rt WHERE r IS EXPRESSED AS A DECIMAL. HOW MANY YEARS WILL IT TAKE AN INITIAL INVESTMENT OF $1,000 TO GROW TO $1,700 AT THE RATE OF 4.42% COMPOUNDED CONTINUOUSLY?
Answer by funmath(2933) (Show Source): You can put this solution on YOUR website!
THE AMOUNT A IN AN ACCOUNT AFTER t YEARS FROM AN INITIAL PRINCILE P INVESTED AT AN ANNUAL RATE r COMPOUNDED CONTINUOUSLY IS GIVEN BY A=Pe^rt WHERE r IS EXPRESSED AS A DECIMAL. HOW MANY YEARS WILL IT TAKE AN INITIAL INVESTMENT OF $1,000 TO GROW TO $1,700 AT THE RATE OF 4.42% COMPOUNDED CONTINUOUSLY?
A=1700
P=1000
r=4.42/100=.0442

yrs.
Happy Calculating!!!
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