The amount a in an account after t years from the ... on Yedda

The amount a in an account after t years from the ...

the amount a in an account after t years from the initial principle p invested at an annual rate r compounded continuously is given by a = pert where r is expressed as a decimal. how many years will it take an initial investment of $1000 to grow to $1700 at the rate of 4.42% compounded continuously?

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OronD

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Love is the battery of life....

Hi,

1700 = 1000 (1 + 0.042) ^X
1.7 = 1.042^X
X ~ 14 years. (~ = approximately)
Best regards,

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