use the continuous compound interest formula to find t a=96000 p=67785 r=8.7% what is t??
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1 Answer

Answer is:

Given A=96000, P=67785  and r = 8.7% 

We know that, continuous compound interest formula is A = Pe^(rt)

P = principal amount 
r = annual interest rate
t =  years
A = amount after t
Use A = Pe^(rt) with A=96000, P=67785  and r = 0.087
Therefore, 96000 = 67785 e^(0.087 t)

96000/ 67785 = e^(0.087 t)

1.42 = e^(0.087 t)

log (1.42) = 0.087 t

0.351 = 0.
087 t
t = 0.351/0.087
t = 4.034
There are many methods to solve the simple interest, compound interest and continuous compound interest this was the one method which i solved for you.  
by Level 2 User (1.1k points)
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