Use the model A Pe' or A=. for years. If $11,000 is invested in an account earning 6.5% interest compounded continuously, determine how long it will take the money to triple. Round up to the nearest year. It will take approximately where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year years. X S 00 → B M

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CT: Chapter Test
Problem 11CT
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nt
or 4 =P ( 1 + ²)",
n
Use the model A = Pet or A = P1+
rt
for t years.
If $11,000 is invested in an account earning 6.5% interest compounded continuously, determine how long it will take the money to triple. Round up to the
nearest year.
It will take approximately
years.
where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year
X
Ś
OO
m
8
KI
Transcribed Image Text:nt or 4 =P ( 1 + ²)", n Use the model A = Pet or A = P1+ rt for t years. If $11,000 is invested in an account earning 6.5% interest compounded continuously, determine how long it will take the money to triple. Round up to the nearest year. It will take approximately years. where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year X Ś OO m 8 KI
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