Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000? Use the model A(t) = Pet and round your answer to the nearest hundredth of a year. %3D It will take years for the investment to reach $12000.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000?
Use the model A(t) = Pet and round your answer to the nearest hundredth of a year.
%3D
It will take
years for the investment to reach $12000.
Transcribed Image Text:Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000? Use the model A(t) = Pet and round your answer to the nearest hundredth of a year. %3D It will take years for the investment to reach $12000.
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