Question

An initial investment of $200 is now valued at $350. The annual interest rate is 8% compounded continuously. The equation

2000.081 - 350 represents the situation, where t is the number of years the money has been invested. About how long has the
money been invested? Use a calculator and round your answer to the nearest whole number.

Answer 1

Answer: 7 years

Explanation:

Substitute the given numbers into the equation, let D=350, P=200, and R=0.08.
N=7 years, which is the number of years for 200 to become 350.