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Popular Word Problems >

How long does it take for \$250 to grow to \$600 at 4% annual percentage rate compounded continuously?

Solution

Ho w l o n g d oes i t t ak e f or $250 t o g ro w t o $600 a t 4% ann u a l p erce n t a g e r a t e co m p o u n d e d co n t in u o u s l y ?

Solution

Time : 21.89

Solution steps

Translate the problem into an equation:

600 = 250 e^{0.04 t}

Solve for

t, 600 = 250 e^{0.04 t} : t = 21.89

Time : 21.89

Popular Examples

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