I was able to save my $600 stimulus check and now want to invest it! I found an amazing savings account that continuously compounds at 1.2%. This means that at any given time, the amount in this account will be given by S = 600e0.01 2t where t is in years. How long until my investment doubles? triples? O doubles: 58 years, triples: 9.2 years O doubles: 60 years, triples: 9.2 years O doubles: 5.8 years, triples: 10 years O doubles: 58 years, triples: 92 years

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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This is question 8 from my homework, please help me!

I was able to save my $600 stimulus check and now want to
invest it!
I found an amazing savings account that continuously
compounds at 1.2%.
This means that at any given time, the amount in this account
will be given by
S = 600e0.012t
where t is in years.
How long until my investment doubles? triples?
O doubles: 58 years, triples: 9.2 years
O doubles: 60 years, triples: 9.2 years
O doubles: 5.8 years, triples: 10 years
O doubles: 58 years, triples: 92 years
Transcribed Image Text:I was able to save my $600 stimulus check and now want to invest it! I found an amazing savings account that continuously compounds at 1.2%. This means that at any given time, the amount in this account will be given by S = 600e0.012t where t is in years. How long until my investment doubles? triples? O doubles: 58 years, triples: 9.2 years O doubles: 60 years, triples: 9.2 years O doubles: 5.8 years, triples: 10 years O doubles: 58 years, triples: 92 years
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