If Danica has $1200 to invest at 8% per year compounded monthly, how long will it be before he has $2400? If the compounding is continuous,how long will it be? (Round your answers to three decimal places.

Swati Sharma asked Sep 15, 2023

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Swati Sharma asked Sep 15, 2023

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19 votes

ANSWER

Step-by-step explanation

a) To find the time it will take before he has $2400, we have to apply the formula for monthly compounded amount:

Lifeisfoo answered Sep 21, 2023

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