The formula can be used to find the number of years t required for an investment P
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can be used to find the number of years t required for an investment P to grow to a value A when compounded continuously at an annual rate r.
(a) How long will it take to increase an initial investment of $1000 to $8000 at an annual rate of 10%?
(b) What annual rate is required to increase the value of a $2000 IRA to $30,000 in 35 years?
(c) Give a derivation of this formula.
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