Suppose that $7000 is invested at an interest rate of 5.2% per year, compounded continuously. How many years does it take for the money to grow to $14000 ?

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asked Jun 6, 2022 64.5k views

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Suppose that $7000 is invested at an interest rate of 5.2% per year, compounded

continuously. How many years does it take for the money to grow to $14000 ?

Mathematics
college

SecretCastle asked

by SecretCastle

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Answer:

use the formula 14000=7000(1+5.2÷100)^t-1

Alisom Martins answered Jun 10, 2022

by Alisom Martins

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