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3. Suppose you invest $10,000 at rate of return of 5% per year compounded continuously. a. How much money will you have in 3 years?
3. Suppose you invest $10,000 at rate of return of 5% per year compounded continuously. a. How much money will you have in 3 years? Use the formula A = Pe", where r is the annual interest rate (as a decimal), P is the initial amount and t is time in years. b. How long will it take to double your money? . Complete the table below that shows the time it takes for an investment to double at different interest rates. Annual interest rate 5% 7% 10% 14% Time to Double (years) d. Explain the relationship between the rate of return and the time to double
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