Susan M. answered • 12/26/20
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Yeilin J.
asked • 12/23/20An initial deposit of $200 is deposited into an account that earns 8.4% interest, compounded continuously.
An initial deposit of $200 is deposited into an account that earns 8.4% interest, compounded continuously. At the time of withdrawal, the money has grown to $331.07. Determine how long the money was in the account. Round your answer to the nearest year.
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Mark M. answered • 12/23/20
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331.07 = 200e0.084t
1.65535 = e0.084t
ln 1.6535 = 0.08t
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