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Josiah invested 96,000 in an account paying an interest rate of 3.5% 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 153,400?

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解答

Josiahinvested96,000inanaccountpayinganinterestrateof3.5%compoundedcontinuously.Assumingnodepositsorwithdrawalsaremade,howlongwouldittake,tothenearestyear,forthevalueoftheaccounttoreach153,400?

解答

Time:13.39
求解步骤
Translate the problem into an equation:153400=96000e0.035t
求解 t,153400=96000e0.035t:t=13.39
Time:13.39

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