Algebra

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You put $1700 into an account at 8% per year compounded continuously.
a) How long will it be until you have $2000?
b) What is the doubling time for this money?

  • Algebra -

    2000 = 1700 e^.08x
    x = 2.03

    for doubling,
    2=e^.08x
    x = 8.67
    agrees with rule of 72

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