Question

You invest $3200 in an account earning 5% annual interest compounded continuously.
a) Write an exponential function for the amount A in the account after t years.

b) Find the inverse of this function by solving for t. This will allow you to determine how long it will take for the account to accumulate a certain amount A. t = ln ( )

Answer 1

1) A (t)=3200e^(0.05t)

2) t=[ in (A/3200)÷in (e)]÷0.05