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You deposit $5,000 in an account that pays 2% annual interest. How long does it take the balance to reach $10,000 when the interest is compounded continuously. Round to the nearest tenth of a year.
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You deposit $5,000 in an account that pays 2% annual interest. How long

does it take the balance to reach $10,000 when the interest is
compounded continuously. Round to the nearest tenth of a year.

User Golden
by
6.9k points

1 Answer

5 votes
Do
/5000 times 2/100
User DraganS
by
7.1k points
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