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OpenStudy (anonymous):
Alan deposited $300 in an account that pays 6% interest compounded continuously. Approximately how long will it take for Alan’s money to triple? (Use the formula where A is the accumulated amount, P is the initial ammount, r is the annual rate of interest, and t is the elapsed time in years.) Answer a. 11.55 years b. 18.31 years c. 23.10 years d. 7.95 years
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