Question

Katy put $3000 into his bank account. If the account pays 9% interest compounded continuously, when will it be worth $12000?

Answer 1

33 years and 4 months.

Explanation:

Assuming it is a flat rate

3000 x 0.09 = $270 per year

12000-3000=9000

9000/270 = 33 years, 4 months