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How long, to the nearest year, will it take me to become a millionaire if I invest $3000 at 10% interest compounded continuously?

 Sep 30, 2019
 #1
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1 - If the $3,000 is a one-time deposit, then it will take you ~ 58 years to have $1,000,000.
2 - If the $3,000 is deposited annually, then it will take you~ 36 years to have $1,000,000.
3 - If the $3,000 is deposited semi-annully, then it will take you ~28 years to have $1,000,000.
4 - If the $3,000 is deposited quarterly, then it will take you ~ 22 years to have $1,000,000.
5 - If the $3,000 is deposited monthly, then it will take you ~13 years to have $1,000,000.

 Sep 30, 2019
 #2
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3000 e0.1t  =  1000000   Solve for   t = 58.09 years

 Sep 30, 2019

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