A bank offers 8% compounded continuously. How soon will a deposit do the following? (I

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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A bank offers 8% compounded continuously. How soon will a deposit do the following? (Round your answers to one decimal place.)
(a) triple
yr
(b) increase by 29%
yr
Transcribed Image Text:A bank offers 8% compounded continuously. How soon will a deposit do the following? (Round your answers to one decimal place.) (a) triple yr (b) increase by 29% yr
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