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July 28, 2015

Homework Help: Calc

Posted by Rita on Sunday, July 15, 2012 at 11:20pm.

How much money will we have in 6 months if we invest $1000 into an account earning 8% compounded continuously?

How long will it take the $1000 to double?

What is the effective rate for 8% compounded continuously that would produce the same accumulated amount after 1 year as 8% compounded continuously you need to set up and solve an equation? (can't use effective rate formula)

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