How many years will it take for an initial investment of $20,000 to grow to $30,000? Assume a rate of interest of 6% compounded continuously.

F = Pe^ (rt)

F is the final amount

P is the principal

r is the interest rate

t is the time in years

30000=20000 e^ (.06t)

divide by 20000

3/2 = e ^.06t

take the ln on each side

ln (3/2) =.06t

divide by. 06

ln (3/2) /.06 = t

t=6.75775 years