EXAMPLE 14 a Time Required to Grow an Investment A sum of $1000 is invested at an interest rate of 4% per year. Find the time required for the amount to grow to $4000 if interest is compounded continuously.

EXAMPLE 14 a Time Required to Grow an Investment A sum of $1000 is invested at an interest rate of 4% per year. Find the time required for the amount to grow to $4000 if interest is compounded continuously.

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter4: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 11T: Suppose that $12,000 is invested in a saving account paying 5.6% interest per year. (a)Write the...

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Question

EXAMPLE 14 a Time Required to Grow an Investment
A sum of $1000 is invested at an interest rate of 4% per year. Find the time required
for the amount to grow to $4000 if interest is compounded continuously.

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