2. Assuming no withdrawals during the investment, how many years will it take for $500, invested at 2% yearly interest compounded continuously, to grow to $5000? Show all work. Express the answer as a numerical value, but without e and without In.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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2. Assuming no withdrawals during the investment, how many years will it take for $500, invested at 2% yearly
interest compounded continuously, to grow to $5000? Show all work. Express the answer as a numerical value, but
without e and without In.
Transcribed Image Text:2. Assuming no withdrawals during the investment, how many years will it take for $500, invested at 2% yearly interest compounded continuously, to grow to $5000? Show all work. Express the answer as a numerical value, but without e and without In.
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