The amount "a" of money in the account after "t" years with continuous compounding of interest is given by the formula a=pe^rt where "p" is the initial deposit and "r" is the interest rate. if 27,500 is invested at an interest rate 4.75%=0.0475, how long does it take for this investment to double, if it is compounded continuously? round your final answer to the tenth.

The amount "a" of money in the account after "t" years with continuous compounding of interest is given by the formula a=pe^rt where "p" is the initial deposit and "r" is the interest rate. if 27,500 is invested at an interest rate 4.75%=0.0475, how long does it take for this investment to double, if it is compounded continuously? round your final answer to the tenth.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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