SOLUTION: Above, Simone invested $1000 at 8% compounded continuously. In how many years will she have $2000?
Algebra
.Com
Question 627620
:
Above, Simone invested $1000 at 8% compounded continuously. In how many years will she have $2000?
Answer by
ewatrrr(24785)
(
Show Source
): You can
put this solution on YOUR website!
Hi,
A = $1000e^(.08*t)
$2000 = $1000e^(.08*t)
2= e^(.08*t)
ln(2) = .08 ln e^t
ln(2)/.08 = t
RELATED QUESTIONS
Simone invests $1000 at 8% compounded continuously. How much does she have after 5...
(answered by
ewatrrr
)
dash invested $10,000 at 3% interest compounded continuously. how much will he have after
(answered by
ikleyn
)
If $15,000 is invested and gains 6.65% interest compounded continuously, in how many...
(answered by
josgarithmetic
)
kimi invests $4000 at 3% interest compounded continuously. how much money will she have...
(answered by
ikleyn
)
Danielle invested $1000 at 8.5% interest, compounded quarterly (every 3 months). How...
(answered by
rfer
)
$1500 was invested at 8% compounded quarterly. Will it grow to $2000 in 4...
(answered by
stanbon
)
If you put $1000 into an account yielding 8% interest continuously compounded, in how...
(answered by
solver91311
)
If you invest $2000 compounded continuously at 3% per annum, how much will this...
(answered by
ikleyn
)
How long would it take $1000, invested at 6% annually compounded continuously, to double...
(answered by
ikleyn
)