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23 October, 13:15

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)

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  1. 23 October, 13:44
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    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
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