Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding. It will take about years for $26,000 to grow to $48,574.39. (Round to the nearest tenth as needed.) C

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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Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding.
It will take about years for $26,000 to grow to $48,574.39.
(Round to the nearest tenth as needed.)
Transcribed Image Text:Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding. It will take about years for $26,000 to grow to $48,574.39. (Round to the nearest tenth as needed.)
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