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anonymous
 5 years ago
How long will it take for $1700 to grow to $38,500 at an interest rate
of 8.8% if the interest is compounded continuously? Round the number of years
to the nearest hundredth?
anonymous
 5 years ago
How long will it take for $1700 to grow to $38,500 at an interest rate of 8.8% if the interest is compounded continuously? Round the number of years to the nearest hundredth?

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amistre64
 5 years ago
Best ResponseYou've already chosen the best response.038500 = 1700(e^(.088t))

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0ln(385 / 17) / .088 = 35.4548863 is what google gives me

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0A = P*e^(rt) 38,500 = 1700e^(0.088t) (38,500/1,700) = e^(0.088t) 0.088t = ln(38,500/1,700) t = (1/0.088)*ln(38,500/1,700) t≈35.45
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