Thread: Initial Principle

The amount A in an account after t years from an initial principle P invested at an annual rate r compounded continuously is given by A =Pe^rt where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at a rate of 4.42% compounded continuously?
My answer is 11 years is this right. thanks for checking.

Originally Posted by kwtolley

The amount A in an account after t years from an initial principle P invested at an annual rate r compounded continuously is given by A =Pe^rt where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at a rate of 4.42% compounded continuously?
My answer is 11 years is this right. thanks for checking.

Can you tell us your reasoning, so that we can help identify were you are
going wrong.

RonL

13 years, I see where I went wrong. Thanks for checking.

Originally Posted by kwtolley

13 years, I see where I went wrong. Thanks for checking.

Are you sure?

RonL