96.0k views
4 votes
An initial investment of $100 is now valued at $150. The annual interest rate is 5%, compounded continuously. The equation 100e^0.05t = 150 represents the situation, where t is the number of years the money has been invested. About how long has the money been invested? Use your calculator and round to the nearest whole number.

An initial investment of $100 is now valued at $150. The annual interest rate is 5%, compounded-example-1
User Zona
by
3.4k points

2 Answers

7 votes

8 years

8 years

8 years

8 years

8 years

8 years

An initial investment of $100 is now valued at $150. The annual interest rate is 5%, compounded-example-1
User Gergely Szilagyi
by
3.7k points
4 votes

Answer: 8 years

Explanation:

User Daniel Shin
by
3.8k points