<PRE><B>Question 110933</B>
HOW MANY YEARS WILL IT TAKE $3000 TO GROW TO $4667 IF IT IS INVESTED AT AN ANNUAL RATE OF 13%, COMPOUNDED CONTINUOUSLY?  ROUND YOUR ANSWER TO ONE DECIMAL PLACE.
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A(t) = Ao*e^rt
4667 = 3000*e^(0.13t)
e^(0.13t) = 1.555666666
Take the natural log to get:
0.13t = 0.441904...
t = 3.4 years
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Cheers,
Stan H.
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