Question

$5850 is invested at 6.5% compounded continuously. How long will it take for the balance to reach $11700? Round your answer to two decimal places.​

Answer 1

Answer:10.66 years. Punch again to double check

Explanation:

A=Pe^(rt)

11700=5850e^(.065t)

isolate the variable expression

2=e^(.065t) divide by 5850

ln2=lne^(.065t) take the natural log of both sides

ln2=.065t. Bring down the power, lne equals

t is about 10.66 years. Divide ln2 by .065