Zachary Zychorda is looking to Invest 100 in a bank account

Zachary Zychorda is looking to Invest 100$ in a bank account that pays 40% yearly Interest compounded continuously. How long will It take for the Investment to be worth $500 ? (round appropriately) Solve exactly. 3xe^x + x^2 e^x = 0 -2 + 3 log(2x) = 13

Solution

2) for compounded continuously,

A = P*e^rt

500 = 100*e^(0.4*t)

t = 4.02 years

3) 3xe^x + x^2e^x = 0

xe^x(3 + x) = 0

x = 0, -3

ii) -2 + 3log(2x) = 13

3*log(2x) = 15

log 2x = 5

2x = 10^5

x = 50000