dinkneshevans dinkneshevans

18-10-2018
Mathematics

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How many years will it take for an initial investment of $20000 to grow to $50000? Assume a rate of interest of 17% compounded continuously

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wolf1728 wolf1728

21-10-2018

Answer:

Years = natural log (total / principal) / rate

Years = natural log (50,000 / 20,000) / .17

Years = natural log (2.5) / .17

Years = (0.9162907319) / .17

Years = 5.3899454818 =

Years = 5.4 (rounded)

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

Step-by-step explanation:

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