##### A woman invests \$5500 in an account that pays 6% interest per year, compounded c

label Algebra
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account_balance_wallet \$5

A woman invests \$5500 in an account that pays 6% interest per year, compounded continuously.
(a) What is the amount after 2 years? (Round your answer to the nearest cent.)

(b) How long will it take for the amount to be \$9000? (Round your answer to two decimal places.)

yr

Jul 16th, 2015

Thank you for the opportunity to help you with your question!

a. A = 5500*(1.06)^2 = \$ 6179.8   (answer)

b.   9000 = 5500 *(1.06)^t   solving we get t = 10.087 years    or 10.09 years   (answer)

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Jul 16th, 2015

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Jul 16th, 2015
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Jul 16th, 2015
Oct 22nd, 2017
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