Jack deposited $100 in an account that pays 6% interest compounded continuously. When he withdrew the money,

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Jack deposited $100 in an account that pays 6% interest compounded continuously. When he withdrew the money, there was a balance of $200. How long ago did he open the account?

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Contemporary Financial Management

ISBN: 9780324289114

10th Edition

Authors: James R Mcguigan, R Charles Moyer, William J Kretlow

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Posted Date: Feb 20, 2024 05:45 AM

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Jack deposited $100 in an account that pays 6% interest compounded continuously. When he withdrew the money,

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To solve this problem we can use the continuous compound interest formu... View the full answer

Contemporary Financial Management

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