If you deposit money continuously at a constant rate of


Question: (a) If you deposit money continuously at a constant rate of $1000 per year into a bank account that earns 5% interest, how many years will it take for the balance to reach $10,000?

(b) How many years would it take if the account had $2000 in it initially?

Solution Preview :

Prepared by a verified Expert
Mathematics: If you deposit money continuously at a constant rate of
Reference No:- TGS02402797

Now Priced at $15 (50% Discount)

Recommended (95%)

Rated (4.7/5)