document.write( "Question 933690: How long will it take for $9800 to grow to $14,500 at an interest rate of 6.1% if the interest is compounded continuously? Round the number of years to the nearest hundredth. \n" ); document.write( "
Algebra.Com's Answer #566973 by ewatrrr(24785)![]() ![]() You can put this solution on YOUR website! A = P e ^(rt) \n" ); document.write( "A/P = e ^(rt) \n" ); document.write( "ln(A/P) = rt \n" ); document.write( "ln(A/P)/r = t \n" ); document.write( "ln(14500/9800)/.061 = t = 6.42yr (Rounded to the nearest hundredth) \n" ); document.write( " |