Q4. We want to invest $18000 in an account compounded continuously. How long should the investment bekept so final value of the account reaches $25000 if the annual rate of interest is 5.8%?

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Answered: Q4. We want to invest $18000 in an…

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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Q4. We want to invest $18000 in an account compounded continuously. How long should the investment be kept so final value of the account reaches $25000 if the annual rate of interest is 5.8%?