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

Algebra
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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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