Recently, a certain bank offered a 5-year CD that earns 2.32% compounded continuously.Use the given...
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Recently, a certain bank offered a 5-year CD that earns 2.32% compounded continuously.Use the given information to answer the questions.(a) If $10,000 is invested in this CD, how much will it be worth in 5 years? approximately $ (Round to the nearest cent.)(b) How long will it take for the account to be worth $35,000? approximately years (Round to two decimal places as needed.).
Recently, a certain bank offered a 5-year CD that earns 2.32% compounded continuously.Use the given information to answer the questions.(a) If $10,000 is invested in this CD, how much will it be worth in 5 years? approximately $ (Round to the nearest cent.)(b) How long will it take for the account to be worth $35,000? approximately years (Round to two decimal places as needed.).
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