Question

How many years will it take for a $50 investment to grow to $5000 if it is compounded continuously at a rate of 5%? Round to two decimal places. Do not include units in your answer A(t) = P*e^(r*t)

Answer 1

5000=50e^0.05t
5000/50=e^0.05t
Log(5000/50)=0.05t*log(e)
T=(log(5,000÷50)÷log(e))/0.05
T=92.10 years