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OpenStudy (anonymous):
how many years will it take for a $50 investment to grow to $5,000 if it is compounded continuously at a rate of 5%? Round your answer to 2 decimal places.
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OpenStudy (anonymous):
I got 92.10 ???
OpenStudy (blurbendy):
5000 = 50(e^(.05t)) 500/50 = e^(.05t) ln(100) ------ = t .05
OpenStudy (anonymous):
so my answer is correct?
OpenStudy (blurbendy):
yup, good job
OpenStudy (anonymous):
k thanks :)
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OpenStudy (blurbendy):
yw
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