en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular Word Problems >

Find how long it will take to have a balance of 900 if 500 is invested at 7.5% annual interest compounded continuously.

Solution

solve for

h o w l o n g i t w i ll t ak e t o ha v e a ba l an ce o f 900 i f 500 i s in v es t e d a t 7.5% ann u a l in t eres t co m p o u n d e d co n t in u o u s l y .

Solution

Time : 7.84

Solution steps

Translate the problem into an equation:

900 = 500 e^{0.075 t}

Solve for

t, 900 = 500 e^{0.075 t} : t = 7.84

Time : 7.84

Popular Examples

Emmanuel puts 1,081 into an investment yielding 1.946% annual simple interest; he left the money in for 71 years. How much interest does Emmanuel get at the end of those 71 years?A regular hexagon is inscribed in a circle whose radius is 10 cm. Find the area of the hexagon.A zero coupon bond with a face value of 27,000 matures in 14 years. What should the bond be sold for now if its rate of return is to be 2.965% compounded annually?The circumference of a circle is 19pi cm. What is the area, in square centimeters? Express your answer in terms of pipi.Jordan and Carmen deposit 2,430.00 into a savings account which earns 11% interest compounded quarterly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?