math

Complete the table for a savings account in which interest is compounded continuously.

initial investment = $600
annual % rate = ?
time to double ?
Amount after 10 years = $19,205.00

I have no idea how to solve this.

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  1. Neither do I, since you don't have enough information.

    Either you have to tell me what the rate is, or the time for doubling.

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  2. sorry, you do have enough information, but please please tell me where I can invest $600 and have it grow to $19205 in 10 years

    19205 = 600(1+i)^10
    32.008 = (1+i)^10
    take the 10th root
    1.414 = 1+i
    i = .414 or 41.4% interest if compounded annually

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