long would it take R20 000 invested today at a nominal annual continuously compounding (NACC) interest rate of 9% p.a. to reach an investment goal of R30 000. A Approximately 5.6 years B Approximately 4.7 years C Approximately 5.1 years D Approximately 4.3 years

Algebra and Trigonometry (MindTap Course List)
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Author:James Stewart, Lothar Redlin, Saleem Watson
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Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
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How long would it take R20 000 invested today at a nominal annual continuously compounding (NACC) interest rate
of 9% p.a. to reach an investment goal of R30 000.
A Approximately 5.6 years
B Approximately 4.7 years
C Approximately 5.1 years
D Approximately 4.3 years

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