Question
How many years will it take for an initial investment of $\$ 25,000$ to grow to $\$ 80,000 ?$ Assume a rate of interest of $7 \%$ compounded continuously.
Step 1
The principal investment (P) is $25,000, the final amount (A) is $80,000, and the rate of interest (r) is 7% or 0.07. Show more…
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How many years will it take for an initial investment of $25,000 to grow to $80,000? Assume a rate of interest of 7% compounded continuously.
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