SOLUTION: How long (in years) would $700 have to be invested at 12.1%, compounded continuously, to earn $300 interest? (Round your answer to two decimal places.)
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: How long (in years) would $700 have to be invested at 12.1%, compounded continuously, to earn $300 interest? (Round your answer to two decimal places.)
Log On
Question 866856: How long (in years) would $700 have to be invested at 12.1%, compounded continuously, to earn $300 interest? (Round your answer to two decimal places.) Found 2 solutions by ewatrrr, Alan3354:Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! How long (in years) would $700 have to be invested at 12.1%, compounded continuously, to earn $300 interest?
------------
0.121t = ln(10/7)
t = ln(10/7)/0.121
t =~ 2.95 years
