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Use the model A=Pert or A=P(1+nr)nt, where A is the future value of P dollars invested at interest rate r compounded continuously or n times
Use the model A=Pert or A=P(1+nr)nt, where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. If a couple has $40,000 in a retirement account, how long will it take the money to grow to $1,000,000 if it grows by 8% compounded continuously? Round up to the nearest year
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