SOLUTION: How long would it take $7000 to grow to $28,000 at 9% compounded continuously? Round your answer to thenearest tenth of a year.
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Question 1089515: How long would it take $7000 to grow to $28,000 at 9% compounded continuously? Round your answer to thenearest tenth of a year.
Answer by math_helper(2461) (Show Source): You can put this solution on YOUR website!
F = Future value
P = Present value
r = annual rate expressed as a decimal
t = time in years
years (about 15 years and 147 days)
—
Check: rounded to the nearest penny.
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