SOLUTION: If Emery has $1700 to invest at 11% per year compounded monthly, how long will it be before he has $2800? If the compounding is continuous, how long will it be? (Round your answers

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: If Emery has $1700 to invest at 11% per year compounded monthly, how long will it be before he has $2800? If the compounding is continuous, how long will it be? (Round your answers      Log On


   

Question 453210: If Emery has $1700 to invest at 11% per year compounded monthly, how long will it be before he has $2800? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.)
A. 57.128 yrs, 4.718 yrs
B. 0.398 yrs, 0.378 yrs
C. 3.391 yrs, 0.454 yrs
D. 4.557 yrs, 4.536 yrs


Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
D)
A=1700(1+0.11/12)^(12*t)
A=1700(2.7183)^(0.11*t)