Question

Phoenix has $1,275 to invest in an account that pays 7% interest per

year, compounded continuously. It will take _____ years for the
amount to be $5050? Round to two decimal places.

Answer 1

56.58 years

Step-by-step explanation:

I=PRT is the actual formula. we adjust the formula to find the t so its become

t = i/pr

t=5050/1275(0.07)

t= 56.58 years