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April 20, 2014

Homework Help: algebra

Posted by david on Friday, May 27, 2011 at 2:31pm.

The amount of money in an account with continuously compounded interest is given by the formula A=Pe^rt , where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a year how long it takes for an amount of money to double if interest is compounded continuously at 3.8%. Round to the nearest tenth.

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