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$4,000 is invested in an account bearing8% interest compounded continuously. The amount of time it takes for the money to grow by a factor ofxis
$4,000 is invested in an account bearing8% interest compounded continuously. The amount of time it takes for the money to grow by a factor ofxis given byt=f(x)=8ln(x). (For example, the amount of time required for the investment to double isf(2)=8ln(2). How long will it take the balance in the account to reach $6,000? Find a formula for the inverse function. Evaluatef-1(8)and explain what this tells you in practical terms.
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