nt Use the model A =Pe" or A=P1+ , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. If a couple has $50,000 in a retirement account, how long will it take the money to grow to $1,000,000 if it grows by 6.5% compounded continuously? Round up to the nearest year. It will take approximately years.
nt Use the model A =Pe" or A=P1+ , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. If a couple has $50,000 in a retirement account, how long will it take the money to grow to $1,000,000 if it grows by 6.5% compounded continuously? Round up to the nearest year. It will take approximately years.
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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