How many years will it take for an initial investment of $10,000 to grow to $35,000? Assume a rate of interest of 15​% compounded continuously.

Question

How many years will it take for an initial investment of $10,000 to grow to $35,000?  Assume a rate of interest of 15​% compounded continuously.

It will take about _____ years for the investment to grow to $35,000.

​(Round to two decimal places as​ needed.)

Answer 1

35000 = 10000e^0.15t

3.5 = e^0.15t

ln 3.5 = 0.15t

1.252762968 ≈ 0.15t

8.351753123 ≈ t