Question
Asked Dec 14, 2019
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practice question 18

18. Suppose $2,700 is invested in an account at an annual interest rate of 6.8% compounded
continuously. How long (to the nearest tenth of a year) will it take the investment to double in
size?
Answer:
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18. Suppose $2,700 is invested in an account at an annual interest rate of 6.8% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size? Answer:

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Expert Answer

Step 1

P0= Initial amount = 2700

r= interest rate = 6.8% =0.068

t= time = ?

P(t)= Final amount ...

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P(t) = Poe™t

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Algebra