oscarsanchez7344 oscarsanchez7344

12-02-2020
Mathematics

contestada

Diego deposited $300 into a new savings account that earns 15% interest compounded continuously. How long will it take for the balance to grow to $1,193

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jmroberts jmroberts

12-02-2020

11 cycles of gaining interest brings the balance to $1258.78 but 10 cycles only brings it to $1094.6
Because you don’t have the amount you’re looking for yet at cycle 10 it has to be cycle 11.

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