SOLUTION: How many years would it take $1000.00 invested in an account paying 4.5% compounded continously to grow to $2000.00. Can you please show how you got the answer. Thanks

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Question 375186: How many years would it take $1000.00 invested in an account paying 4.5% compounded continously to grow to $2000.00. Can you please show how you got the answer. Thanks
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
F=P%281%2Bi%29%5Et
2000=1000%281%2B0.045%29%5Et
2=%281.045%29%5Et
t=log%281.045%2C%282%29%29
highlight%28t=log%28%282%29%29%2Flog%28%281.045%29%29%29
or approximately,
t=15.75 years