Find the time required for a principal of $1,650 to grow to $2,000 if interest is paid at an annual rate of 1.75% compounded continuously. Round to the nearest hundredth of a year. Ot 10.99 years Ot=4.77 years Ot 11.09 years t = 1.10 years

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Find the time required for a principal of $1,650 to grow to $2,000 if
interest is paid at an annual rate of 1.75% compounded continuously.
Round to the nearest hundredth of a year.
Ot 10.99 years
O t 4.77 years
Ot 11.09 years
Ot 1.10 years
Transcribed Image Text:Find the time required for a principal of $1,650 to grow to $2,000 if interest is paid at an annual rate of 1.75% compounded continuously. Round to the nearest hundredth of a year. Ot 10.99 years O t 4.77 years Ot 11.09 years Ot 1.10 years
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