asked 206k views
10 votes
6) Suppose you deposit $6000 in a savings account that pays interest at an annual rate of 4% compounded

continuously. How many years will it take for the balance in your savings account to reach $8000? Round
your answer up to the nearest number of years.

asked
User Petur
by
7.8k points

1 Answer

10 votes

Answer:

7 years

Explanation:

6) Suppose you deposit $6000 in a savings account that pays interest at an annual-example-1
6) Suppose you deposit $6000 in a savings account that pays interest at an annual-example-2
answered
User M A SIDDIQUI
by
8.6k points
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