SOLUTION: How long, to the nearest year, will it take me to become a millionaire if I invest $1000 at 8% interest compounded continuously?
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Question 719968: How long, to the nearest year, will it take me to become a millionaire if I invest $1000 at 8% interest compounded continuously?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
How long, to the nearest year, will it take me to become a millionaire if I invest $1000 at 8% interest compounded continuously?
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0.08t = ln(1000)
t = ln(1000)/0.08
t =~ 86 years
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