Solution-Deposit money continuously at a constant rate

Deposit money continuously at a constant rate

Reference no: EM131607257

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?

Reference no: EM131607257

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Deposit money continuously at a constant rate

Reference no: EM131607257

Reference no: EM131607257

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