A woman invests $6200 in an account that pays 6% interest per year, compounded continuously. (a) What is the amount after 2 years? (Round your answer to the nearest cent.) (b) How long will it take for the amount to be $8000? (Round your answer to two decimal places.) yr

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CT: Chapter Test
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A woman invests $6200 in an account that pays 6% interest per year, compounded continuously.
(a) What is the amount after 2 years? (Round your answer to the nearest cent.)
2$
(b) How long will it take for the amount to be $8000? (Round your answer to two decimal places.)
yr
Transcribed Image Text:A woman invests $6200 in an account that pays 6% interest per year, compounded continuously. (a) What is the amount after 2 years? (Round your answer to the nearest cent.) 2$ (b) How long will it take for the amount to be $8000? (Round your answer to two decimal places.) yr
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