How long in years will it take a $300 investment to be worth $1000 if it is continuously compounded at 9% per year?
Could you please elaborate on how long it would take for a $300 investment to grow to $1000, assuming it's continuously compounded at a rate of 9% annually? I'm curious to understand the specific timeframe involved in this scenario, and how the concept of continuous compounding affects the overall growth of the investment. Additionally, I'm interested in knowing if there's a formula or method that can be used to calculate this accurately.