Alexa invested $54,000 in an account paying an interest rate of 4% compounded continuously. Assuming no deposits or withdrawals

Question

Alexa invested $54,000 in an account paying an interest rate of 4% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $106,200?

Kunduz · Accepted Answer

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