Recently, a certain bank offered a 5-year CD that earns 2.32% compounded continuously. Use the given information to answer the

Question

Recently, a certain bank offered a 5-year CD that earns 2.32% compounded continuously.
Use the given information to answer the questions.
(a) If $10,000 is invested in this CD, how much will it be worth in 5 years? approximately $ (Round to the nearest cent.)
(b) How long will it take for the account to be worth $35,000? approximately years (Round to two decimal places as needed.).

Kunduz · Accepted Answer

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