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This Question: 1 pt 3 of 24 (2 complete) Recently, a certain bank offered a 5-year CD that earns 12.15% compounded continuously. Use the given
This Question: 1 pt 3 of 24 (2 complete) Recently, a certain bank offered a 5-year CD that earns 12.15% compounded continuously. Use the given information to answer the questions. (a) If $20,000 is invested in this CD, how much will it be worth in 5 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $50,000? approximately years (Round to two decimal places as needed.)
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