Brittney deposits $5,021.00 into an interest-bearing investment account, which is compounded continuously at an interest rate of 3.5%. She decides to not deposit or withdraw any money after the initial deposit. The following function represents the account balance of the savings account after t years.

A (t) = $5,021 * e^ (0.035t)

Approximately how many years will it take for the initial deposit to quadruple?

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25 December, 08:23

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Todd Harvey · Answer 1

this is too similar to the previous one

4*deposite=20084=A (t)

e^0.035t=20084/5021=4

ln4=0.035t

t*0.035=1.386

t=39.6