JackalChanka
Answered

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Suppose you invest $2000 at an annual interest of 5.5% compounded continuously.
a. How much will you have in the account in 10 years?
b. How long will it take for the account to reach $5000?

Sagot :

kevin13wu

Answer:

[tex]2000 \times {1.055}^{10} = 3416.29[/tex]

[tex]5000 \div 2000 = 2.5[/tex]

[tex] log_{1.055}(2.5) = 17.11[/tex]

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