Thanos just opened a savings account with an initial deposit of $20,000. The account pays 5% annual interest and is compounded continuously. Assuming that no other deposits or withdrawals are made, how many years will it be until the value of Thanos' account is $40,000? Round to the nearest integer. Do not include units.
Thanos just opened a savings account with an initial deposit of $20,000. The account pays 5% annual interest and is compounded continuously. Assuming that no other deposits or withdrawals are made, how many years will it be until the value of Thanos' account is $40,000? Round to the nearest integer. Do not include units.
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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![E VIEW LIST
Thanos just opened a savings account with an initial deposit of $20,000.
The account pays 5% annual interest and is compounded continuously.
Assuming that no other deposits or withdrawals are made, how many years
will it be until the value of Thanos' account is $40,000?
Round to the nearest integer. Do not include units.
€ ∞
αΩ [g] {8 18
II lim
+
1
> ≤E
+÷ Cun
-
DID
√0
√0
% Vo
1
8
4
(0) [0]
101 {0}
H
X
TT](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbd6a0801-26af-49c9-8e90-86603c61bb3f%2Fa286940a-593d-41af-9712-dd2d942a4f9e%2Fsl3q01p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:E VIEW LIST
Thanos just opened a savings account with an initial deposit of $20,000.
The account pays 5% annual interest and is compounded continuously.
Assuming that no other deposits or withdrawals are made, how many years
will it be until the value of Thanos' account is $40,000?
Round to the nearest integer. Do not include units.
€ ∞
αΩ [g] {8 18
II lim
+
1
> ≤E
+÷ Cun
-
DID
√0
√0
% Vo
1
8
4
(0) [0]
101 {0}
H
X
TT
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