Gabriella invests 2,579 in a savings account with a fixed annual interest rate of 9% compounded continuously. How long will it take for the account balance to reach 6,343.32?

Solución

Gabriella invests 2, 579 in a savings account with a fixed annual interest rate of 9% compounded continuously. How long will it take for the account balance to reach 6, 343.32?

Solución

Time : 10

Pasos de solución

Translate the problem into an equation:

6343.32 = 2579 e^{0.09 t}

Resolver para

t, 6343.32 = 2579 e^{0.09 t} : t = 10

Time : 10

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