en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

If 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to 5000 at 4%?

Solution

If 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to 5000 at 4%?

Solution

Time : 17.33

Solution steps

Translate the problem into an equation:

5000 = 2500 e^{0.04 t}

Solve for

t, 5000 = 2500 e^{0.04 t} : t = 17.33

Time : 17.33

Popular Examples

Colin puts 1,500.00 into an account to use for school expenses. The account earns 3% interest, compounded quarterly. How much will be in the account after 8 years?Find the final amount of a \$2500 investment after 10 years at 9% growth.the product of negative four and a number You are dealt one card from a 52 card deck. Find the probability that you are dealt a club or a non dash picture card.Meg invested 16,000 in a savings account. If the annual interest rate is 6%, how much will be in the account in5 years with quarterly compounding?