document.write( "Question 1172129: Mario invest $280 at 8% interest compounded continuously. Write the exponential function to represent the situation and at what time will the total reach $1,000,000 \n" ); document.write( "
Algebra.Com's Answer #797034 by math_helper(2461)\"\" \"About 
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\n" ); document.write( "\"+F+=+Pe%5E%28rt%29+\"
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\n" ); document.write( "r = rate
\n" ); document.write( "t = time
\n" ); document.write( "P = Principal
\n" ); document.write( "F = Future value
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\n" ); document.write( "\"+1000000+=+280e%5E%280.08t%29+\"
\r
\n" ); document.write( "\n" ); document.write( "\"+1000000%2F280+=+e%5E%280.08t%29+\"
\r
\n" ); document.write( "\n" ); document.write( "\"+ln%281000000%2F280%29+=+0.08t+\"
\r
\n" ); document.write( "\n" ); document.write( "\"+8.180721+=+0.08t+\"
\r
\n" ); document.write( "\n" ); document.write( "\"+t+=+8.180721%2F0.08+\" = \"+102.26+\" years
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\n" ); document.write( "That's a long time to wait.
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\n" ); document.write( "If a person can put in $2,000 at the start, and then $2000 each year, they would have more than $1,000,000 after 46 years, assuming 8% return per year.\r
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