Suppose that $2000 is invested in an account that pays interest compounded continuously. Find the amount of time that it would take for the account to grow to $3000 4.75%. It would take approximately years. (Round to the nearest tenth.)

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
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Suppose that $2000 is invested in an account that pays interest compounded continuously. Find the amount of time that it would take for the account to grow to $3000 at
4.75%.
It would take approximately
years.
(Round to the nearest tenth.)
Transcribed Image Text:Suppose that $2000 is invested in an account that pays interest compounded continuously. Find the amount of time that it would take for the account to grow to $3000 at 4.75%. It would take approximately years. (Round to the nearest tenth.)
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