Teri invested $2500 in an account with an interest rate of 2.75% compounded continuously. How long will it take for Teri's account to earn $6000?

The time it will take for Teri's account to earn $6000 = 87 years

The total amount of money invested by Teri ( p) = $2500

The interest rate of the investment (r) = 2.75%

The simple interest is ( I) = $6000

Therefore the time to generate the interest of $6000

Therefore, time =

=87 years.

Therefore, the time it will take for Teri's account to earn $6000 = 87 years

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 It will take 32 years for Teri's account to earn $6000.

Step-by-step explanation:

Formula we use to find the accumulated amount if compounded continuously :

, where P= principal amount

r= rate of interest

t= time

Given: P= $2500  , r= 2.75% = 0.0275, A= $6000

To find : t

Substitute all values in function, we get

Taking natural log on both sides, we get

Hence, it will take 32 years for Teri's account to earn $6000.

step-by-step explanation: