Suppose that $1,000 is invested at 8% interest compounded continuously. Use the formula A -...
80.2K
Verified Solution
Link Copied!
Question
Finance
Suppose that $1,000 is invested at 8% interest compounded continuously. Use the formula A - Pet (a) How long (to the nearest day) before the value is $1,250? years, days (b) How long (to the nearest day) before the money doubles? years, days (c) What is the interest rate (compounded continuously and rounded to the nearest tenth of a percent) if the money doubles in 5 years
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
