christaannrocks christaannrocks

23-02-2017
Mathematics

contestada

Mary deposited $350 in a bank account that promises 2.8 percent interest compounded continuously. Approximately how many years will it take to reach a balance of $500?

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RachelRD RachelRD

23-02-2017

Intrest=principal*rate*time
500-350=150<---final interest
150=350*2.8*time
150=980*time
time=approx. 0.15years or 54.75 days

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