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vladimir1956 [14]
3 years ago
8

HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Mathematics
1 answer:
Black_prince [1.1K]3 years ago
8 0
The answer would be 9
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The continuous compounding formula tells you the amount after t years will be ...

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  ln(7400/5500) = 0.05t . . . . divide by 5500, take natural logs

  t = 20×ln(74/55) ≈ 5.93

It will take about 5.93 years for $5500 to grow to $7400.

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