Evan is going to invest in an account paying an interest rate of 6.1% compounded continuously. How much would Evan need to invest, to the nearest ten dollars, for the value of the account to reach $67,000 in 7 years?
Evan is going to invest in an account paying an interest rate of 6.1% compounded continuously. How much would Evan need to invest, to the nearest ten dollars, for the value of the account to reach $67,000 in 7 years?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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Transcribed Image Text:Evan is going to invest in an account
paying an interest rate of 6.1%
compounded continuously. How much
would Evan need to invest, to the
nearest ten dollars, for the value of the
account to reach $67,000 in 7 years?
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