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Investing math problem!

  1. Nov 22, 2006 #1
    How many years (to two decimal places) will it take $5,000 to grow to $7,500 if invested at 8% compounded semiannually? Compounded continuously? Thank you!
     
  2. jcsd
  3. Nov 22, 2006 #2

    arildno

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    Plug into&chug out of the formula given in your textbook.
     
  4. Nov 22, 2006 #3
    simple interest; A=P(1+rt)
    compound interest; A=P(1+r/m)^mt
    continuous compound interest; A=Pe^rt

    I just can't seem to get my answer to match what is in the textbook. :(
     
  5. Nov 22, 2006 #4

    HallsofIvy

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    You haven't shown us what you did, you haven't told us what answer you got, you haven't told us what the answer in the book was! I don't see how we can help you!
     
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