Answered: How long (in years) would $900 have to…

How long (in years) would $900 have to be invested at 11.6%, compounded continuously, to earn $600 interest? (Round your answer to the nearest whole number.) yr

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter11: Exponential And Logarithmic Functions

Section11.CR: Review Problem Set

Problem 56CR

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Question

How long (in years) would $900 have to be invested at 11.6%, compounded continuously, to earn $600 interest? (Round your answer to the nearest whole number.)
yr

Expert Solution