Recently, a certain bank offered a 10-year CD that earns 2.97% compounded continuously. Use the given...
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Recently, a certain bank offered a 10-year CD that earns 2.97% compounded continuously. Use the given information to answer the questions. (a) If $10,000 is invested in this CD, how much will it be worth in 10 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $15,000? approximately years (Round to two decimal places as needed.) Recently, a certain bank offered a 10-year CD that earns 2.97% compounded continuously. Use the given information to answer the questions. (a) If $10,000 is invested in this CD, how much will it be worth in 10 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $15,000? approximately years (Round to two decimal places as needed.)
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