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21 November, 13:33

Suppose that $28,000 is deposited in an account and the balance increases to $31,569.91 after 2 years. How long will it take for the account to grow to $61,448.81? Assume continuous compounding.

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  1. 21 November, 15:50
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    Step-by-step explanation:

    31569.91 - 28000=3569.91

    Divide that number by two and you will get how much is the increase exactly and it's 1784.955

    Then just add that 31.569.91 till you get 61.448.81
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