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Mathematics
Akeem invests $25,000 in an account that pays 4.75% annual interest compounded continuously. Using the formula A=Pe^rt, where A=the amount in the account after t years, P=principal invested, and r=the annual interest rate, how many years, to the nearest tenth will it take Akeem’s investment to triple? SHOW WORK! a) 10.0 b) 14.6 c) 23.1 d) 24.0
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3 = e^(0.0475)t
i need help with this question
can you go from there
i think so
okay :)
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is the e $25000
or p
A=3 p=1
what does e equal
you ln both sides so lne = 1
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