Question

Use the continuous compound interest formula to find the indicated value. A=90,000; P=65,452; r=9.1%; t=? t=years (Do not round until the final answer. Then round to two decimal places as​ needed.)

Answer 1

Using continuous compounding, we have:
90000=65452 x e^.091t
1.3750534743017784024934303000672=e^.091t
ln 1.3750534743017784024934303000672=ln e^.091t=.091t ln e=0.091t
t=3.5 years