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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 …

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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5 votes
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.

User Himayan
by
8.2k points

1 Answer

5 votes
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.

User Jclehner
by
8.0k points
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