PLEASE HELP Jasmine has saved $2500 to buy a used car, but she needs $3500 to buy the car she wants. If she places the $2500 into an account paying 6.5% interest compounded continuously, how many years

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Rohit Dhawan asked Jan 6, 2023

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PLEASE HELP

Jasmine has saved $2500 to buy a used car, but she needs $3500 to buy the car she wants. If she places the $2500 into an account paying 6.5% interest compounded continuously, how many years will it be before she has the $3500 needed to purchase her car?

2.5 years
6.9 years
3.7 years
5.2 years

Mathematics
college

Rohit Dhawan asked Jan 6, 2023

by Rohit Dhawan

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Answer:

about 5.2 years

Explanation:

$2500 {e}^(.065t) = 3500$

t = 5.2

JRose answered Jan 12, 2023

by JRose

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