<PRE><B>Question 93112</B>
The amount A in an account after t years from an initial pricnciple P invested at an annual rate r compounded continuosly is given by A=Pe^(rt) where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at the rate of 4.42% compounded continously?
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1700 = 1000e^(0.0442t)
1.7 = e^(0.0442t)
Take the natural log of both sides to get:
ln(1.7) = 0.0442t
t = 12.005 years
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Cheers,
Stan H.
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