Mary deposited $350 in a bank account that promises 2.8 percent interest compounded continuously. approximately how many years will it take to reach a balance of $500?

The time taken to reach the balance is approximately 13 years.                

Step-by-step explanation:

Given : Mary deposited $350 in a bank account that promises 2.8 percent interest compounded continuously.

To find : How many years will it take to reach a balance of $500?

Solution :

The formula of compounded continuously is

Where, A is the amount A=$500

P is the principal P=$350

r is the interest rate r=2.8%=0.028

t is the time in year.

Substitute the values in the formula,

Taking log both side,

The time taken to reach the balance is approximately 13 years.

equal to

step-by-step explanation:

2x^2+5x+17

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