Emma invested 19,000 in an account paying an interest rate of 4.2% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 40,000?

Lời Giải

Emma invested 19, 000 in an account paying an interest rate of 4.2% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 40, 000?

Lời Giải

Time : 17.72

Các bước giải pháp

Translate the problem into an equation:

40000 = 19000 e^{0.042 t}

Giải

t, 40000 = 19000 e^{0.042 t} : t = 17.72

Time : 17.72

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