If Emery has $1,400 to invest at 5% per year compounded monthly, how long will it be before he has $2,400? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

Meshtron asked May 18, 2023

413,857 views

35 votes

If Emery has $1,400 to invest at 5% per year compounded monthly, how long will it be before he has $2,400? If the compounding is

continuous, how long will it be? (Round your answers to three decimal places.)

Mathematics
college

Meshtron asked May 18, 2023

by Meshtron

2.8k points

0 Comments

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Your answer

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

1 Answer

29 votes

Answer:

Explanation:

(1400x14.5x5%) + 1400 =2415

Answer: 14.5 months

Vik Gamov answered May 21, 2023

by Vik Gamov

2.9k points

0 Comments

Your comment on this answer:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

0 Comments

Your comment on this question:

Your answer

1 Answer

0 Comments

Your comment on this answer:

Other Questions