Investing. How many years will it take $10,000 to grow to $16,500 if it is invested at 6% (A) compounded quarterly? (B) compounded continuously? (A) years (Round to two decimal places.) (B) years (Round to two decimal places.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Investing. How many years will it take $10,000 to grow to $16,500 if it is invested at 6% (A) compounded quarterly? (B) compounded continuously?
(A)
years (Round to two decimal places.)
(B)
years (Round to two decimal places.)
Enter your answer in each of the answer boxes.
Transcribed Image Text:Investing. How many years will it take $10,000 to grow to $16,500 if it is invested at 6% (A) compounded quarterly? (B) compounded continuously? (A) years (Round to two decimal places.) (B) years (Round to two decimal places.) Enter your answer in each of the answer boxes.
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