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4. How long will it take $2,000 to grow to $24,000 if it is invested at 7% compounded monthly?

4. How long will it take $2,000 to grow to $24,000 if it is invested at 7% compounded monthly?

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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4. How long will it take $2,000 to grow to $24,000 if it is invested at 7% compounded monthly? 12+ 24,000 = 억억)'27 3D2000 (1+0.07 12 12000 = (l+0.07 12 %3D 12t 12t 12000 = (1.005833333) * 10g 1.005833333 12000 =12+ I614.862487312+ - 134 .57=t 12
Transcribed Image Text:4. How long will it take $2,000 to grow to $24,000 if it is invested at 7% compounded monthly? 12+ 24,000 = 억억)'27 3D2000 (1+0.07 12 12000 = (l+0.07 12 %3D 12t 12t 12000 = (1.005833333) * 10g 1.005833333 12000 =12+ I614.862487312+ - 134 .57=t 12
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