At the end of t years, the future value of an investment of $10,000 in an account that pays 9% APR compounded monthly is S = 10,000 1+ additional deposits, how long will it take for the investment to amount to $30,000? The investment will grow to $30,000 in years. (Do not round until the final answer. Then round to two decimal places as needed.) 12t 0.09 dollars. Assuming no withdrawals or 12
At the end of t years, the future value of an investment of $10,000 in an account that pays 9% APR compounded monthly is S = 10,000 1+ additional deposits, how long will it take for the investment to amount to $30,000? The investment will grow to $30,000 in years. (Do not round until the final answer. Then round to two decimal places as needed.) 12t 0.09 dollars. Assuming no withdrawals or 12
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...
Question
Transcribed Image Text:At the end of t years, the future value of an investment of $10,000 in an account that pays 9% APR compounded monthly is S = 10,000 1+
additional deposits, how long will it take for the investment to amount to $30,000?
The investment will grow to $30,000 in
years.
(Do not round until the final answer. Then round to two decimal places as needed.)
12t
0.09
dollars. Assuming no withdrawals or
12
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