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spayn [35]
3 years ago
10

find the amount of time to the nearest day it would take a deposit of $2500 to grow to $1 million at 2% compounded continuously.

find how many days & years
Mathematics
1 answer:
castortr0y [4]3 years ago
8 0

Answer:

Years = natural log (Total / Principal) / Rate

Years = natural log (1,000,000 / 2,500) / .02

Years = natural log (400) / .02

Years =  5.9914645471 / .02

It would take  299.573227355 Years

Source: http://www.1728.org/rate2.htm

Step-by-step explanation:

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