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Robert invested $7,600 in an account paying an interest rate of 1.9% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $8,600?

Respuesta :

Answer:

the answer is 7

Step-by-step explanation:

Compounded Continuously:

A=Pe^rt

A=8600

P=7600

r=0.019

8600=7600e^0.019t

[tex]\frac{x}{y} 8600\\ 7600[/tex] =[tex]\frac{x}{y} 7600e^0.019t\\7600[/tex]

1.1315789=e^0.019t

In(1.1315789)=e^0.019t

ln(1.1315789)=

\,\,0.019t

0.019t

6.5059977=t

t=7

thxxxx byee

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