Thanos just opened a savings account with an initial deposit of $20,000. The account pays 5% annual interest and is compounded continuously. Assuming that no other deposits or withdrawals are made, how many years will it be until the value of Thanos' account is $40,000? Round to the nearest integer. Do not include units.
Thanos just opened a savings account with an initial deposit of $20,000. The account pays 5% annual interest and is compounded continuously. Assuming that no other deposits or withdrawals are made, how many years will it be until the value of Thanos' account is $40,000? Round to the nearest integer. Do not include units.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 5E
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