Question: If Russ (see Exercise 29) chooses the plan with continuous compounding, how long will it take for his $60,000 to grow to $70,000? Exercise 29

If Russ (see Exercise 29) chooses the plan with continuous compounding, how long will it take for his $60,000 to grow to $70,000?

Exercise 29

Russ, who is self-employed, wants to invest $60,000 in a pension plan. One investment offers 3% compounded quarterly. Another offers 2.75% compounded continuously.

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