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of the following models: y = a (1 + r)', y = a (1 – r)', A Pert

of the following models: y = a (1 + r)', y = a (1 – r)', A Pert

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Clever | Portal x O Dashboard My Sessions s ServSafe Aware A sanmarcos.schoolobje esting?testEntryld%=D335 Aware sanmarcos.schoolobjects.com Algebra 2 - CA9 - Exponential Funch COLOR THEME Q Q ZOOM 1. Bob invests $10,000 at 8% annual interest. How long, in years, must Bob wait for his investment to reach $1,000,000 if interest is compounded continuously? nt Use one of the following models: y = a (1 + r)', y = a (1 – r)', A = (1+ %3D or A = Pe"t.
Transcribed Image Text:Clever | Portal x O Dashboard My Sessions s ServSafe Aware A sanmarcos.schoolobje esting?testEntryld%=D335 Aware sanmarcos.schoolobjects.com Algebra 2 - CA9 - Exponential Funch COLOR THEME Q Q ZOOM 1. Bob invests $10,000 at 8% annual interest. How long, in years, must Bob wait for his investment to reach $1,000,000 if interest is compounded continuously? nt Use one of the following models: y = a (1 + r)', y = a (1 – r)', A = (1+ %3D or A = Pe"t.
Expert Solution
Step 1

If the interest is compounded continuously then A=Pert

substitute the values

A=Pert1000000=10000e0.08t

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