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Find the time required for an investment of 5000 dollars to grow to 6800 dollars at an interest rate of 3.1 percent per year, compounded monthly. years. > Next Question

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter2: Exponential, Logarithmic, And Trigonometric Functions

Section2.1: Exponential Functions

Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...

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Find the time required for an investment of 5000 dollars to grow to 6800 dollars at an interest rate
of 3.1 percent per year, compounded monthly.
years.
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