Continuously compounded interest Ten thousand dollars is invested in a savings fund in which interest is compounded continuously at the rate of 7% per year. (a) When will the account contain $35,000? (b) How long does it take for money to double in the account?
Continuously compounded interest Ten thousand dollars is invested in a savings fund in which interest is compounded continuously at the rate of 7% per year. (a) When will the account contain $35,000? (b) How long does it take for money to double in the account?
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.5: Exponential And Logarithmic Equations
Problem 90E
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