nvested $7,30o in an account paying an interest rate of 1.6% compounc nously. Assuming no deposits or withdrawals are made, how long would - the nearest tenth of a year, for the value of the account to reach $9,07

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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David invested $7,300 in an account paying an interest rate of 1.6% compounded
continuously. Assuming no deposits or withdrawals are made, how long would it-
take, to the earest tenth of a year,
for the value of the account to reach $9,070?
Transcribed Image Text:David invested $7,300 in an account paying an interest rate of 1.6% compounded continuously. Assuming no deposits or withdrawals are made, how long would it- take, to the earest tenth of a year, for the value of the account to reach $9,070?
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