Asked by allison
So I think I have got these down I just really want to double check the answers to these two word questions. Thanks
How long will it take for $9500 to grow to $36,300 at an interest rate of 12.4% if the interest is compounded continuously? Round the number of years to the nearest hundredth.
How long must $4000 be in a bank at 6% compounded annually to become $6757.92? (Round to the nearest year.)
How long will it take for $9500 to grow to $36,300 at an interest rate of 12.4% if the interest is compounded continuously? Round the number of years to the nearest hundredth.
How long must $4000 be in a bank at 6% compounded annually to become $6757.92? (Round to the nearest year.)
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