Time to Reach an Investment Goal The formula can be used
Chapter 6, Problem 68(choose chapter or problem)
Time to Reach an Investment Goal The formula can be used to find the number of years t required for an investment P to grow to a value A when compounded continuously at an annual rate r. (a) How long will it take to increase an initial investment of $1000 to $8000 at an annual rate of 10%? (b) What annual rate is required to increase the value of a $2000 IRA to $30,000 in 35 years? (c) Give a derivation of this formula.= ln A - ln P r
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