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OpenStudy (darkbluechocobo):
Help with compound interest
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OpenStudy (darkbluechocobo):
The formula for continuously compounded interest on a principal investment P at a given interest rate r over time t in years is given by A = Pe^rt. You have deposited $12,000 in an account that pays 4.15% interest, compounded continuously. How long will it take for your initial investment to grow six times its original worth? Round your answer to the nearest tenth.
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