Originally Posted by
jcthecarpenter Right, I am getting terribly inaccurate answers so I need help:
The question is, "With an investment of $1,500 in an account, your goal is to get a $2,500 return. Interest is compound continuously."
Part 1: How long does it take to reach your goal if the rate is 7.65%?
Part 2: What Interest rate would you need to reach your goal in 6 years?
For part 1 I got 6.68 years, which I'm pretty sure is wrong, and if it isn't then I donno how I got it. I'm totally lost on part 2, I know I'm supposed to use P=ert for both, right? Could anyone walk me through this?