Question

If $22,000 is invested in an account earning 4.5% interest compounded continuously,

determine how long it will take the money to quadruple. Round to the nearest year.
Use the model A = Pet where A represents the future value of P dollars invested at
an interest rate r compounded continuously for t years.
OA) 31 years
B) 36 years
C) 3 years
D) 308 years

Answer 1

approx 32years so pick answer A

Explanation:

22000x4=88000
22000x1.045^t
22000x1.045^31=84,104
22000x1.045^32=89,979