Carlene is saving her money to buy a $500 desk. She deposits $400 into an account with an annual interest rate of 6% compounded continuously. The equation 400e^0.06t=500 represents the situation, where t is the number of years the money needs to remain in the account. About how long must Carlene wait to have enough money to buy the desk? Use a calculator and round your answer to the nearest whole number.
QUESTION POSTED AT 01/06/2020 - 04:26 PM