How long would $8600 have to be invested into a fund earning 8.1% interest, compounded cotinuously, in order for the initial investment to double? a) It would have to be invested for years in order to double. (Round to 2 decimal places.) b) What interest rate, compounded continuously, would be necessary for the same investment to double in 5 years? The interest rate would have to be % {Give a percent to at least 3 decimal places}

How long would $8600 have to be invested into a fund earning 8.1% interest, compounded cotinuously, in order for the initial investment to double? a) It would have to be invested for years in order to double. (Round to 2 decimal places.) b) What interest rate, compounded continuously, would be necessary for the same investment to double in 5 years? The interest rate would have to be % {Give a percent to at least 3 decimal places}

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...

See similar textbooks