Question
A man with $20,000 to invest decides to diversify his investments by placing S10,000 in an account that earns 4.2% compounded continuously and $10,000
A man with $20,000 to invest decides to diversify his investments by placing S10,000 in an account that earns 4.2% compounded continuously and $10,000 in an account that earns 5.4% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to $35,000. It will take approximately years for his total investment in the two accounts to grow to $35,000. (Type an integer or decimal rounded to one decimal place as needed.)
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Get StartedRecommended Textbook for
College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
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