mmy deposited $433.00 into a new savings account that earns 12% interest compounded continuously. How long will it take for the balance to grow to $495.00?
Question
Solution 1
To solve this problem, we can use the formula for continuous compound interest, which is A = Pe^(rt), where:
- A is the amount of money accumulated after n years, including interest.
- P is the principal amount (the initial amount of money).
- r is the annual interest rate (in decimal).
- t is the Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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