Round to the nearest tenth of a year. years

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
icon
Related questions
Question
Jesaki Bank offers a 10-year CD that earns 2.5% compounded continuously.
Transcribed Image Text:Jesaki Bank offers a 10-year CD that earns 2.5% compounded continuously.
If $10,000 is invested in this CD, how long will it take for the account to be worth $11,428?
Round to the nearest tenth of a year.
years
Transcribed Image Text:If $10,000 is invested in this CD, how long will it take for the account to be worth $11,428? Round to the nearest tenth of a year. years
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning