SOLUTION: If 8000 dollars is invested in a bank account at an interest rate of 10 per cent per year, compounded continuously. How many years will it take for your balance to reach 20000 doll

SOLUTION: If 8000 dollars is invested in a bank account at an interest rate of 10 per cent per year, compounded continuously. How many years will it take for your balance to reach 20000 doll

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Question 977190: If 8000 dollars is invested in a bank account at an interest rate of 10 per cent per year, compounded continuously. How many years will it take for your balance to reach 20000 dollars?
Answer by JulietG(1812) (Show Source): You can put this solution on YOUR website!
Using the compound interest calculator, an $8000 investment compounded daily (365 times per year) at 10% will reach $20,011.68 after 9.17 years.
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