Suppose Matt has invested in a mutual fund that is compounded annually at 14.51%. How long will it take the money invested to double? (Round up to the nearest year)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Find the value of an investment of $15,247 for 17 years at an annual
interest rate of 5.4% compounded continuously.
Transcribed Image Text:Find the value of an investment of $15,247 for 17 years at an annual interest rate of 5.4% compounded continuously.
Suppose Matt has invested in a mutual fund that is compounded annually
at 14.51%. How long will it take the money invested to double? (Round
up to the nearest year)
Transcribed Image Text:Suppose Matt has invested in a mutual fund that is compounded annually at 14.51%. How long will it take the money invested to double? (Round up to the nearest year)
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