SOLUTION: Above, Simone invested $1000 at 8% compounded continuously. In how many years will she have $2000?
Algebra
->
Customizable Word Problem Solvers
->
Finance
-> SOLUTION: Above, Simone invested $1000 at 8% compounded continuously. In how many years will she have $2000?
Log On
Ad:
Over 600 Algebra Word Problems at edhelper.com
Word Problems: Money, Business and Interest
Word
Solvers
Solvers
Lessons
Lessons
Answers archive
Answers
Click here to see ALL problems on Money Word Problems
Question 627620
:
Above, Simone invested $1000 at 8% compounded continuously. In how many years will she have $2000?
Answer by
ewatrrr(24785)
(
Show Source
):
You can
put this solution on YOUR website!
Hi,
A = $1000e^(.08*t)
$2000 = $1000e^(.08*t)
2= e^(.08*t)
ln(2) = .08 ln e^t
ln(2)/.08 = t