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3 September, 02:51

An initial investment of $200 is now valued at $350. The annual interest rate is 8% compounded continuously. The equation

2000.081 - 350 represents the situation, where t is the number of years the money has been invested. About how long has the

money been invested? Use a calculator and round your answer to the nearest whole number.

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Answers (1)
  1. 3 September, 02:57
    0
    Answer: 7 years

    Explanation:

    Substitute the given numbers into the equation, let D=350, P=200, and R=0.08.

    N=7 years, which is the number of years for 200 to become 350.
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