Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding. It will take about years for $26,000 to grow to $48,574.39. (Round to the nearest tenth as needed.) C
Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding. It will take about years for $26,000 to grow to $48,574.39. (Round to the nearest tenth as needed.) C
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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![Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding.
It will take about years for $26,000 to grow to $48,574.39.
(Round to the nearest tenth as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3b3cab0b-1b9d-46af-aea0-f4a60a0a3a8d%2Ff8ea94a5-b050-4993-ba3d-53cadd614964%2Ftia1k5_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that $26,000 is deposited in an account and the balance increases to $31,756.47 after 4 years. How long will it take for the account to grow to $48,574.39? Assume continuous compounding.
It will take about years for $26,000 to grow to $48,574.39.
(Round to the nearest tenth as needed.)
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