Answered: 41. Time Required to Reach a Goal How…

41. Time Required to Reach a Goal How many years will it take for an initial investment of $10,000 to grow to $25,000? Assume a rate of interest of 6% compounded continuously.

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter11: Exponential And Logarithmic Functions

Section11.2: Applications Of Exponential Functions

Problem 29PS: What rate of interest to the nearest hundredth of percent is needed so that an investment of 2500...

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41. Time Required to Reach a Goal How many years will it
take for an initial investment of $10,000 to grow to $25,000?
Assume a rate of interest of 6% compounded continuously.

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