SOLUTION: This question really has me stumped. Now suppose, instead of knowing t, we know tht the bank returned us $25,000 with the bank compounding continuously. Using logarithms, find ho
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Question 38400: This question really has me stumped. Now suppose, instead of knowing t, we know tht the bank returned us $25,000 with the bank compounding continuously. Using logarithms, find how long we left the money in the bank (find t)
P= 25,000, R= .08, t=?
I could really use some help with this one. Thanks, Christine Answer by Nate(3500) (Show Source):
You can put this solution on YOUR website! I=PRT or interest is principle * rate * time
(total amount - initial amount)=PRT
(25000 - 25000) = 25000(.08)t
0 = 2000t
0 = t
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