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# Time Required to Reach a Goal If Angela has \$100 to invest at 4% per annum compounded

ISBN: 9780470876398 408

## Solution for problem 54 Chapter 6.2

Finite Mathematics, Binder Ready Version: An Applied Approach | 11th Edition

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Finite Mathematics, Binder Ready Version: An Applied Approach | 11th Edition

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Problem 54

Time Required to Reach a Goal If Angela has \$100 to invest at 4% per annum compounded monthly, how long will it be before she has \$175? If the compounding is continuous, how long will it be?

Step-by-Step Solution:
Step 1 of 3

Example 1 Solve each of the following. (a) [Solution] (b) [Solution] (c) [Solution] (d) [Solution] Solution (a) In this first part we have the same base on both exponentials so there really isn’t much to do other than to set...

Step 2 of 3

Step 3 of 3

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