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Mackenzie invested $770 in an account paying an interest rate of 6.1% 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 $1,830?

Mackenzie invested $770 in an account paying an interest rate of 6.1% 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 $1,830?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Mackenzie invested $770 in an account paying an interest rate of 6.1% 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 $1,830? Answer: Submit Answer
Transcribed Image Text:Mackenzie invested $770 in an account paying an interest rate of 6.1% 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 $1,830? Answer: Submit Answer
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