f. An investment of $20,000 is made. Annual interest is 7.5%, compounded continuously. (i) Find the time (in years) it takes for the investment to double. ) Calculate the time (in years) it takes for the investment to triple. (ii) Calculate the time (in years) it takes for the investment to reach a balance of $70,000.
f. An investment of $20,000 is made. Annual interest is 7.5%, compounded continuously. (i) Find the time (in years) it takes for the investment to double. ) Calculate the time (in years) it takes for the investment to triple. (ii) Calculate the time (in years) it takes for the investment to reach a balance of $70,000.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Transcribed Image Text:ears
An investment of $20,000 is made. Annual
interest is 7.5%, compounded continuously.
(i) Find the time (in years) it takes for the
investment to double.
f.
Calculate the time (in years) it takes for
the investment to triple.
(ii) Calculate the time (in years) it takes for
the investment to reach a balance of
$70,000.
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