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If Emery has $1,400 to invest at 5% per year compounded monthly, how long will it be before he has $2,400? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.
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If Emery has $1,400 to invest at 5% per year compounded monthly, how long will it be before he has $2,400? If the compounding is

continuous, how long will it be? (Round your answers to three decimal places.)

User LiverpoolOwen
by
7.8k points

1 Answer

1 vote

Answer:

Explanation:

(1400x14.5x5%) + 1400 =2415

Answer: 14.5 months

User Jerome Banks
by
8.0k points
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