How many years will it take for a $50 investment to grow to $5000 if it is compounded continuously at a rate of 5%? Round to two decimal places. Do not include units in your answer A (t) = Pe^ (rt)

Question

Thomas Wilkerson

10 October, 11:46

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Camilla Vaughan · Answer 1

5000=50e^0.05t

5000/50=e^0.05t

Log (5000/50) = 0.05t*log (e)

T = (log (5,000:50) : log (e)) / 0.05

T=92.10 years

How many years will it take for a $50 investment to grow to $5000 if it is compounded continuously at a rate of 5%? Round to two decimal places. Do not include units in your answer A (t) = P*e^ (r*t)