Scott invested $3,000 in an account earning 41% annual interest that is compounded continuously. How...

60.1K

Verified Solution

Question

Algebra

image

Scott invested $3,000 in an account earning 41% annual interest that is compounded continuously. How long will it take the investment to grow $5, 500? Round your answer to the nearest hundredth.Select the correct answer below:3.71 years3.71 months13.47 months13.47 years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students