Deshawn invests $5,000 in a savings account that earns 6% annual interest, compounded continuously. How long will it take to dou
ble his money?
1 answer:
Answer:
Step-by-step explanation:
Investment = $5,000
Annual Interest = 5%
5000/100 x 5/1
50×5 = 250
First year interest = $250
Therefore, 250 x 20
= $5,000
It will take him 40 years.
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