A man with $30,000 to invest decides to diversify his investments by placing $15,000 in an account that earns 5.2% compounded continuously and $15,000 in an account that earns 6.4% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to $45,000. It will take approximately ____ years for his total investment in the two accounts to grow to $45,000. (Type an integer or decimal rounded to one decimal place as needed.)
A man with $30,000 to invest decides to diversify his investments by placing $15,000 in an account that earns 5.2% compounded continuously and $15,000 in an account that earns 6.4% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to $45,000. It will take approximately ____ years for his total investment in the two accounts to grow to $45,000. (Type an integer or decimal rounded to one decimal place as needed.)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 67SE: Alyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500....
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A man with $30,000 to invest decides to diversify his investments by placing $15,000 in an account that earns 5.2%
compounded continuously and $15,000 in an account that earns
compounded continuously and $15,000 in an account that earns
6.4%
compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to $45,000.It will take approximately ____ years for his total investment in the two accounts to grow to $45,000.
(Type an integer or decimal rounded to one decimal place as needed.)
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