Find the time required for an initial investment of $2000 to reach $3500 if the interest is compounded continuously at a 4.5% annual interest rate. Use the appropriate formula: A = P(1+2)"; A = Pert nt

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
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Find the time required for an initial investment of $2000 to reach $3500 if the interest is
compounded continuously at a 4.5% annual interest rate.
Use the appropriate formula: A = P(1+2)"; A = Pert
nt
Transcribed Image Text:Find the time required for an initial investment of $2000 to reach $3500 if the interest is compounded continuously at a 4.5% annual interest rate. Use the appropriate formula: A = P(1+2)"; A = Pert nt
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