SOLUTION: how many years will it take for an initial investment of 10000 to grow 25000 at 6% interest compound continuously
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Question 979105: how many years will it take for an initial investment of 10000 to grow 25000 at 6% interest compound continuously
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
how many years will it take for an initial investment of 10000 to grow 25000 at 6% interest compound continuously
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FV = PV*e^(rt)
25000 = 10000*e^(0.06t)
e^(0.06t) = 2.5
0.06t = ln(2.5)
t = ln(2.5)/0.06 years
t =~ 15.27 years
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