anonymous
  • anonymous
If interest is compounded continuously at the rate of 13% per year, approximate the number of years it will take an initial deposit of $7000 to grow to $20000. (Round your answer to the nearest tenth.)
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
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anonymous
  • anonymous
We should use that formula
anonymous
  • anonymous
20,000 = 7,000 e^(.13 t) => t = (100/ 13) ln ( 20 / 7) = 8.1 yrs

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anonymous
  • anonymous
Just learn how to plug in the numbers :)
anonymous
  • anonymous
ok, thank you

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