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Use the model A = Pe^rt or A = P( 1 + r )^nt, ...

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Basic Math

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Use the model A = Pe^rt or A = P( 1 + r )^nt, where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. If a couple has $200,000 in a retirement account, how long will it take the money to grow to $1,000,000 if it grows by 6% compounded continuously? Round up to the nearest year.

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