If 7000 dollars is invested in a bank account at an interest rate of 5 per cent per year, compounded continuously. How many years will it take for your balance to reach 30000 dollars? NOTE: Give your answer to the nearest tenth of a year.

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Q: Avery is going to invest $270 and leave it in an account for 20 years. Assuming the interest is…

A: For compounded continuously  A=Pertr = ln(AP)t   Here,  A=$600P=$270t=20

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A: Solving the problem by finding the value after 20 years.

Q: Avery invested $21,000 in an account paying an interest rate of 3.3% compounded continuously.…

A: GIVEN Principal , P = $21000\ Amount , A = 29200 Rate , r = 3.3% = 0.033 For continuously…

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Q: Find the time it takes for $6,400 to double when invested at an annual interest rate of 4%,…

A: Given: sum, P=$6,400 r=4%=4100=0.04 We have to find time in which given sum becomes double. So,…

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Q: 5b. How long, to the nearest tenth of a year, will it take $8000 to grow to $16,000 at 8% annual…

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Q: Find the time it takes for $6,700 to double when invested at an annual interest rate of 5%,…

A: (a) Given - Original amount=$6,700 Interest rate=5% , compounded continuously. To find - The time…

Q: Taylor invested $11,000 in an account paying an interest rate of 3.5% compounded continuously.…

A: We will find out the required value.

Q: How much money must be deposited today to become $2500 in 30 years at 6.5% compounded continuously?…

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Q: How long will it take an investment to double in value if a 9% continuously compounded interest rate…

A: Let investment = P  If amount double, A = 2P  Interest rate, r = 9% 9100=0.09 Using formula for…

Q: How much money must be deposited today to become $1800 in 50 years at 7.5% compounded continuously?

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Q: If $4000 is invested at an interest rate of 6.25% per year, compounded continuously, find the value…

A: Given: If $4000 is invested at an interest rate of 6.25% per year, compounded continuously The…

Q: Find the present value of $57,000 due 15 years later at 8%, compounded continuously.

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Q: Eli invested $9,400 in an account paying an interest rate of 2.3% compounded continuously. Assuming…

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Q: See photo attached, thank you.

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Q: How many years will it take $1,000 to grow to $1,900 if it is invested at 3.50% compounded…

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Q: How long will it take for $1,000 to be worth $2,500 at 5% interest, if compounded continuously?…

A: Given:  P=$1000A=$2500r=5%=0.05

Q: How many years will ittake for an initial investment of $10,000 to grow to $25,000?Assume a rate of…

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Q: Assume a savings account had $6000 initially, and that the interest rate per year to be compounded…

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Q: How much money must be deposited today to become $2400 in 30 years at 5.5% compounded continuously?…

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Q: Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%,…

A: Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: Peyton is going to invest $71,000 and leave it in an account for 18 years. Assuming the interest is…

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Q: If $2000 is invested at 6% interest, find the amounts due to the nearest cent at the end of 4 years…

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Q: Joseph invested $16,000 in an account paying an interest rate of 5.7% compounded continuously.…

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Q: How much money needs to be deposited now into an account to obtain $1,700 in 5 years if the interest…

A: Total amount of money at the end of nth  year is given by,                               A = P 1 +…

Q: How many years are required for an investment to double in value if it is appreciating at the rate…

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Q: Find the time it takes for $5,300 to double when invested at an annual interest rate of 9%,…

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Q: Evan is going to invest in an account paying an interest rate of 6.1% compounded continuously. How…

A: Evan is going to invest in an account paying an interest rate of 6.1% compounded continuously. How…

Q: Carson invested $2,700 in an account paying an interest rate of 1.6% compounded continuously.…

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Q: If 3000 dollars is invested in a bank account at an interest rate of 4 per cent per year, compounded…

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Q: Find the time it takes for $790,000 to double when invested at an annual interest rate of 19%,…

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Q: How much was invested into Ed's account that was continuously compounded at 3.9% interest for 15…

A: Compound Interest :  When the interest charged after a certain specified time period is added to…

Q: Adrian is going to invest $9,900 and leave it in an account for 10 years. Assuming the interest is…

A: Simply use the formula for compound interest.

Q: How much money must be deposited today to become $2250 in 30 years at 5.5% compounded continuously?…

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Q: How many years are required for an investment to double in value if it is appreciating at the rate…

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Q: Tyler invested $350 in an account paying an interest rate of 4.5% compounded continuously. Assuming…

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Q: A recent college graduate decides to open a credit card in order to pay for their upcoming trip…

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Q: Aaron invested $7,500 in an account paying an interest rate of 1.5% compounded continuously.…

A: Continuous compounding formula: - When it is specifically stated in a problem that the amount is…

Q: Find the time it takes for $7,800 to double when invested at an annual interest rate of 14%,…

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Q: Find the time it takes for $6,600 to double when invested at an annual interest rate of 10%,…

A: NOTE** As per bartleby guidelines for more than one question asked only first is to be answered…

Q: David invested $220 in an account paying an interest rate of 1.7% compounded continuously. Assuming…

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Q: Lucy invested $30,000 in an account paying an interest rate of 6.6% compounded continuously.…

A: given that principle amount invested is p=$30000rule of interest, r=6.6%=0.066time period, t=9 years

Q: How much money must be deposited today to become $2450 in 60 years at 6.5% compounded continuously?

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Q: Samuel is going to invest in an account paying an interest rate of 5% compounded continuously. How…

A: GIVEN: Rate = 5 Time = 9 years