Answered: Suppose we put $15000 into an account…

Suppose we put $15000 into an account earning 3% interest compounded continuously. How long will it take (in years) got us to have a balance of $45,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Suppose we put $15000 into an account earning 3% interest compounded continuously. How long will it take (in years) got us to have a balance of $45,000. Round your answer to the nearest year.

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