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nikklg [1K]
2 years ago
9

Annabelle invested $5,900 in an account paying an interest rate of 2% compounded continuously. Assuming no deposits or withdrawa

ls are made, how long would it take, to the nearest year, for the value of the account to reach $7,440?
Mathematics
2 answers:
Zigmanuir [339]2 years ago
7 0

Answer:

Step-by-step explanation:

Continuous compounding has the form

A=Pe^{rt}\\ \\ t=\frac{ln\frac{A}{P}}{r}\\ \\ t=\frac{ln\frac{7440}{5900}}{0.02}\\ \\ t\approx 11.6\\ \\ t=12

igor_vitrenko [27]2 years ago
4 0

Answer:

assuming No Deposits Or Withdrawals Are Made, How Long Would It Take, To The Nearest Year, For The Value Of The Account To Reach $7,440? ... invested $5,900 in an account paying an interest rate of 2% compounded continuously

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2 years ago
While testing a new vaccine, a lab technician noticed that the number of bacteria reduced by half every minute. How long does it
ANTONII [103]
As we know that 
x=x0*[1/2]n
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