00:01
We're going to invest $10 ,000 at a continuous rate of 8 % per year.
00:06
How long will it take till that reaches $26 ,000? well we've got to use the right formula.
00:12
Since this is continuous, that's our key, we know that the formula we're going to use is e, is this one here.
00:19
I call this the pert formula.
00:21
We want to end up with $26 ,000, so that's my value of a.
00:26
We're going to start with $10 ,000, so that's my value of p.
00:30
E, my interest rate, is .08, so make sure you change that to a decimal, and then we have our t, which we're looking for...