Isly. 98u waht to withdraw all your money when it reaches $1,250 (Future years will you be able to withdraw all your money? s is 1 decimal place.

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...
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You currently have $500 (Present Value) in an account that has an interest rate of 7.5% per year
compounded continuously. You want to withdraw all your money when it reaches $1,250 (Future
Value). In how many years will you be able to withdraw all your money?
The number of years is
Round your answer to 1 decimal place.
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Transcribed Image Text:You currently have $500 (Present Value) in an account that has an interest rate of 7.5% per year compounded continuously. You want to withdraw all your money when it reaches $1,250 (Future Value). In how many years will you be able to withdraw all your money? The number of years is Round your answer to 1 decimal place. > Next Question esc 个 G Search or type U" $ % 2 3 4 5 6 Q W E R T
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