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guajiro [1.7K]
2 years ago
5

F Tanisha has ​$ 1,000 to invest at 5 % per annum compounded ​, how long will it be before she has ​$1,400 ​? If the compounding

is​ continuous, how long will it​ be?
Question content area bottom
Part 1
Compounding ​, it will be about
  
enter your response here years before Tanisha has ​$1,400.
Mathematics
1 answer:
vladimir2022 [97]2 years ago
5 0

With annual compounding, the number of years for 1000 to become 1400 is 6.7 years

With continous compounding, the number of years for 1000 to become 1400 is 1.35 years

<h3>How long would it take $1000 to become $1,400?</h3>

With annual compounding, the formula that would be used is:

(In FV / PV) / r

Where:

  • FV = future value
  • PV = present value
  • r = interest rate

(In 1400 / 1000) / 0.05 = 6.7 years

With continous compounding, the formula that would be used is:

(In 1400 / 1000) / (In e^r)

Where r = interest rate

((In 1400 / 1000) / (In e^0.05) = 1.35 years

To learn more about how to determine the number of years, please check: : brainly.com/question/21841217

#SPJ1

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