How long (in years) would $7,000 have to be invested at 12% compounded continuously to earn $3,033.31 interest?. It would have to be invested for places.) years. (Round to 2 decimal

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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How long (in years) would $7,000 have to be invested at 12% compounded
continuously to earn $3,033.31 interest?.
It would have to be invested for
places.)
years. (Round to 2 decimal
Transcribed Image Text:How long (in years) would $7,000 have to be invested at 12% compounded continuously to earn $3,033.31 interest?. It would have to be invested for places.) years. (Round to 2 decimal
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