Question: How many years, to the nearest tenth, will be needed for $5000 to increase to $18,000 at 3.0% annual interest compounded (a) monthly (b) continuously?

How many years, to the nearest tenth, will be needed for $5000 to increase to $18,000 at 3.0% annual interest compounded (a) monthly (b) continuously?

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a Substitute P 5000 A 18000 r 003 and n 12 into the formula tn AP14 t t12 ... View full answer

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