Investing math problem!

1. Nov 22, 2006

m90210

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. Nov 22, 2006

arildno

Plug into&chug out of the formula given in your textbook.

3. Nov 22, 2006

m90210

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. :(

4. Nov 22, 2006

HallsofIvy

Staff Emeritus
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!