SOLUTION: Suppose you invest \$7000 at an annual rate of 6.25% compounded continuously. How much time will it take for the investment to reach a value of \$56000?

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 Click here to see ALL problems on Money Word Problems Question 194016: Suppose you invest \$7000 at an annual rate of 6.25% compounded continuously. How much time will it take for the investment to reach a value of \$56000?Answer by stanbon(57356)   (Show Source): You can put this solution on YOUR website!Suppose you invest \$7000 at an annual rate of 6.25% compounded continuously. How much time will it take for the investment to reach a value of \$56000 -------------------------- A(t) = P*e^(rt) 56000 = 7000*e^(0.0625t) e^(0.0625t) = 8 Take the natural log to get: 0.0625t = ln(8) t = 33.27 years ========================= Cheers, Stan H.