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

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

amistre64 · Answer

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

anonymous · Answer

13.4 years?

amistre64 · Answer

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