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How Long Will It Take for $8200 to Grow to $42,000

Question 149

Multiple Choice

How long will it take for $8200 to grow to $42,000 at an interest rate of 4.7% if the interest is compounded continuously? Round the number of years to the nearest hundredth.


A) 34.76 yr
B) 1.11 yr
C) 3475.61 yr
D) 3.48 yr

Correct Answer:

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