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6. Find the time it will take $1000 to grow to $5000 at an interest rate of 3.5% if the interest is compounded a) quarterly b) continuously

6. Find the time it will take $1000 to grow to $5000 at an interest rate of 3.5% if the interest is compounded a) quarterly b) continuously

Algebra for College Students
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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6. Find the time it will take $1000 to grow to $5000 at an interest rate of 3.5% if the interest is compounded a) quarterly b) continuously
Transcribed Image Text:6. Find the time it will take $1000 to grow to $5000 at an interest rate of 3.5% if the interest is compounded a) quarterly b) continuously
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