Question

How long would it take to get $100,000 if I invest $5000 in an account giving 9.7% interst, compounded continuously?
Round answer to nearest tenth

Answer 1

\[A=Pe^{rt}\]
\[A/P=e^{rt}\]
\[ln(A/P)=rt\]
\[\frac{ln(A/P)}{r}=t\]

Answer 2

13.4 years?

Answer 3

maybe, id have to actually plug in the numbers :) lets see what the wolf gets

(ln(100,000/5,000))/.097

(ln(100/5))/.097

(ln(20))/.097 = ... not 13.4

http://www.wolframalpha.com/input/?i=%28ln%2820%29%29%2F.097