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Compute the Compound Interest

Question 125

Multiple Choice

Compute the compound interest.
-How long will it take for $8900 to grow to $12,400 at an interest rate of 3.5% if the interest is compounded continuously? Round the number of years to the nearest hundredth.


A) 3.5 yr
B) 947.56 yr
C) 0.95 yr
D) 9.48 yr

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