How many years will it take for a $50 investment to grow to $1000 if it is compounded continuously at a rate of 5%? Round to two decimal places. Do not include units in your answer

A(t) = P ert

Question

How many years will it take for a $50 investment to grow to $1000 if it is compounded continuously at a rate of 5%? Round to two decimal places. Do not include units in your answer

A(t) = P  ert

anonymous · Answer

$$1000=50e^{.05t}$$ solve for $t$ in 3 steps

anonymous · Answer

1) divide by 50
2) write in equivalent logarithmic form
3) divide by $.05$

anonymous · Answer

look familiar ?

anonymous · Answer

Yes lol I just didn't see it in the same set up! Thanks again

anonymous · Answer

yw

anonymous · Answer

btw no one compounds interest continuously
that is stuff that happens in nature

anonymous · Answer

Got it. Quick question. What do I dividing by if there nothing infront of the e like this problem..
The price of 9-volt batteries is increasing according to the function below, where t is years after January 1, 1980. During what year will the price reach $5?

P(t) = 1.1  e0.047t

anonymous · Answer

not sure what you mean
you want 
$$5=1.1e^{.047t}$$

anonymous · Answer

1) divide by $1.1$
2)
3)

anonymous · Answer

Oops I didn't see the 1.1 infront of the e. Ty