An investment of $3000 grows at a continuous rate of 10% per year. How long will it take to reach a value of $22000? Round to one decimal place. Put the answer in years
Added by Raymond R.
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Step 1: Use the formula for continuous growth: $A = Pe^{rt}$, where $A$ is the final amount, $P$ is the initial investment, $r$ is the rate, $t$ is the time in years. Show more…
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