document.write( "Question 47892: The amount of A in an account after t years from an initial principle P invested at an annual rate r compounded continuously is given by A=Pe^rt where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at the rate of 4.42% compunded continuously.\r
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document.write( "I came up with 12 years. \n" );
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Algebra.Com's Answer #31691 by Nate(3500)![]() ![]() ![]() You can put this solution on YOUR website! A = Pe^rt \n" ); document.write( "1700 = 1000e^0.0442t \n" ); document.write( "ln(1.7) = 0.0442t \n" ); document.write( "ln(1.7)/0.0442 = t \n" ); document.write( "About 12 days \n" ); document.write( " |