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Assignment 3: Compounded Interest a) How long does it take for money to double in value if it is invested in an account at 5% interest compounded annually? Show all work. b) How long does it take for money to double in value if it is invested in an account at 5% interest compounded continuously? Show all work. c) Finally, explain/discuss the differences in the methods used to solve these two problem

Assignment 3: Compounded Interest

  1. a)  How long does it take for money to double in value if it is invested in an account at 5% interest compounded annually? Show all work.
  2. b)  How long does it take for money to double in value if it is invested in an account at 5% interest compounded continuously? Show all work.
  3. c)  Finally, explain/discuss the differences in the methods used to solve these two problem

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