How many years (approx.) will it take $6,000 to amount to 8,000 if it is invested at an annual rate of 9.0% compounded continuously ?

A. 23 Years
B. 3 Years
C. 9 Years
D. 2 Years
E. 42 Years

Question

How many years (approx.) will it take $6,000 to amount to 8,000 if it is invested at an annual rate of 9.0% compounded continuously ?

A. 23 Years
B. 3 Years
C. 9 Years
D. 2 Years
E. 42 Years

anonymous · Answer

I believe we need one more number here..
What was the initial investment?

anonymous · Answer

missing something?

anonymous · Answer

If I give you the formula, can you figure it out?

anonymous · Answer

$$8000=6000e ^{.09t}$$