Complete the table for a savings account subject to continuo

Complete the table for a savings account subject to continuous compounding. (A = P e^rt) Let A represent the accumulated amount, P the amount invested, r the annual interest rate, and t the time. Find the time, t. t approximatelyequalto years (Round to one decimal place as needed.)

Solution

A = P e^rt

P = $9500

A = 9500

19000 = 9500 e^.13t

dividing both sides by 9500

19000/9500 = e^.13t

2 = e^.13t

taking natural log on both sides

ln 2 = .13 t

t = 5.332

t = 5.3 years