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Popular Word Problems >

5750 is invested at 6.0% compounded continuously. How long will it take for the balance to reach 11500?

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Solution

5750isinvestedat6.0%compoundedcontinuously.Howlongwillittakeforthebalancetoreach11500?

Solution

Time:11.55
Solution steps
Translate the problem into an equation:11500=5750e0.06t
Solve for t,11500=5750e0.06t:t=11.55
Time:11.55

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