Question

if you deposit $1000 in to an account that pays 4% interest compounded continuously, how long will it take the account to grow to $2000

Answer 1

The formula for interest compounded continuously is A= Pe^(rt).
Substitute in your numbers, solve for t.

Answer 2

2000 = 1000 (1+ 4/100)^n
(1.04)^n = 2
??

Answer 3

"2000 = 1000 (1+ 4/100)^n"
Where did you get that? Lol you leave e as e. There should be a button on your calculator that is labeled "e'"

2000=1000e^(0.04t)

Answer 4

ooh i see