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You invested 1,000 in an account with interest rate at 2% compounded continuously. how long until 1400 is in your account?

You invested 1,000 in an account with interest rate at 2% compounded continuously. how long until 1400 is in your account?
asked 213k views
25 votes
you invested 1,000 in an account with interest rate at 2% compounded continuously. how long until 1400 is in your account?

asked
User Danitza
by
8.4k points

1 Answer

8 votes

Answer:20 months

Explanation:

2% of 1000 is 20 1000-1400=400

400/20=20 so 20 months

answered
User Jomahony
by
7.6k points
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