A man with $20,000 to invest decides to diversify his investments by placing $10,000 in an account
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Question:
A man with $20,000 to invest decides to diversify his investments by placing $10,000 in an account that earns 8.2% compounded continuously and $10,000 in an account that earns 9.4% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to $35,000.
It will take approximately __ years for his total investment in the two accounts to grow to $35,000.
Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
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