en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

If 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to 7500 at 8%?

Solution

I f 2500 i s in v es t e d in an a cco u n t t ha t p a ys in t eres t co m p o u n d e d co n t in u o u s l y, h o w l o n g w i ll i t t ak e t o g ro w t o 7500 a t 8% ?

Solution

Time : 13.73

Solution steps

Translate the problem into an equation:

7500 = 2500 e^{0.08 t}

Solve for

t, 7500 = 2500 e^{0.08 t} : t = 13.73

Time : 13.73

Popular Examples

Malik deposits 5000 in an account that pays 3.9% interest compounded continuously. What will be the value of the account in 8 years?If 535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?How much money will there be in an account at the end of 8 years if 1,100 is deposited at a 5.5% annual rate that is compounded continuously 2200 dollars is placed in an account with an annual interest rate of 7.25%. How much will be in the account after 29 years, to the nearest cent?A sum of R12,500 amounts to R15,500 in four years at the rate of simple interest. What is the rate of interest?