Question

Suppose $2000 is invested at 9% interest compounded continuously. How long will it take for the investment to grow to $10,000? Use the model A ( T ) = P e^rt and round to the nearest tenth of a year.

It will take approximately ____ years for the investment to grow to $10,000.
.

Answer 1

7

Explanation:

sing the equation > A = Pe^rt

20000 = 10000e^0.1t > 10% = 0.1

2 = e^0.1t

log 2 = log e^0.1t > log to the base e

log 2 = 0.1t * 1 log e to the base e =1

0.6931 = 0.1t

t = 6.931

= 7 years

Hope this helps <3

Wanna get ranked faster? Comment "rankup"