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Kylie invested $290 in an account paying an interest rate of 2.5% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the
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1 vote
Kylie invested $290 in an account paying an interest rate of 2.5% compounded

continuously. Assuming no deposits or withdrawals are made, how long would it
take, to the nearest tenth of a year, for the value of the account to reach $390?

User Dalilah
by
7.7k points

1 Answer

3 votes

Answer:

11.9

Explanation:

390=290e^(.025x)

x=11.85 which rounds to 11.9

User Azee
by
8.2k points
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