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An initial investment of $200 is now valued at $350. The annual interest rate is 8% compounded continuously. The equation 2000.081 - 350 represents the situation, where t is the …
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An initial investment of $200 is now valued at $350. The annual interest rate is 8% compounded continuously. The equation 2000.081 - 350 represents the situation, where t is the …
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Dec 5, 2021
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An initial investment of $200 is now valued at $350. The annual interest rate is 8% compounded continuously. The equation
2000.081 - 350 represents the situation, where t is the number of years the money has been invested. About how long has the
money been invested? Use a calculator and round your answer to the nearest whole number.
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Himayan
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Answer: 7 years
Explanation:
Substitute the given numbers into the equation, let D=350, P=200, and R=0.08.
N=7 years, which is the number of years for 200 to become 350.
Jclehner
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