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Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000? Use the model A(t) = Pet and round your answer to the nearest hundredth of a year. %3D It will take years for the investment to reach $12000.

Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000? Use the model A(t) = Pet and round your answer to the nearest hundredth of a year. %3D It will take years for the investment to reach $12000.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000? Use the model \( A(t) = Pe^{rt} \) and round your answer to the nearest hundredth of a year. It will take ______ years for the investment to reach $12000.
Transcribed Image Text:Suppose $6000 is invested at 5% interest compounded continuously. How long will it take for the investment to grow to $12000? Use the model \( A(t) = Pe^{rt} \) and round your answer to the nearest hundredth of a year. It will take ______ years for the investment to reach $12000.
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