A) Find the time it takes for $9,200 to double when invested at an annual interest rate of 16%, compounded continuously. years B) Find the time it takes for $920,000 to double when invested at an annual interest rate of 16%, compounded continuously. years

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
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A) Find the time it takes for $9,200 to double when
invested at an annual interest rate of 16%, compounded
continuously.
years
B) Find the time it takes for $920,000 to double when
invested at an annual interest rate of 16%, compounded
continuously.
years
Transcribed Image Text:A) Find the time it takes for $9,200 to double when invested at an annual interest rate of 16%, compounded continuously. years B) Find the time it takes for $920,000 to double when invested at an annual interest rate of 16%, compounded continuously. years
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