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Suppose you deposit $500 in a savings account where the interest earned is compounded continuously at a rate of 10%. How many years will it take the balance in the account to reach $8000 (round your answer
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Suppose you deposit $500 in a savings account where the interest earned is compounded

continuously at a rate of 10%. How many years will it take the balance in the account to reach
$8000 (round your answer to the nearest year)?

User Christophercotton
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7.5k points

1 Answer

1 vote
14 years after rounding to the nearest year
User Pgrandjean
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8.7k points
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