Alexa invested $54,000 in an account paying an interest rate of 4% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $106,200?
Alexa invested $54,000 in an account paying an interest rate of 4% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $106,200?
Trigonometry (11th Edition)
11th Edition
ISBN:9780134217437
Author:Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Publisher:Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Chapter1: Trigonometric Functions
Section: Chapter Questions
Problem 1RE:
1. Give the measures of the complement and the supplement of an angle measuring 35°.
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Transcribed Image Text:Alexa invested $54,000 in an account
paying an interest rate of 4% compounded
continuously. Assuming no deposits or
withdrawals are made, how long would it
take, to the nearest year, for the value of the
account to reach $106,200?
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