A PLEASE HELP ASAP
Lira Massimi has just opened a retirement savings account with an initial investment of $2000. She hopes that the account will be worth 310000 when she retires in twenty years. Lira will not make any further
investments in the
withdrawals from the account until it is worth $10000. The interest is compounded continuously at
8.0% annually. You need a calculator for the next three questions.)
17. Suppose that the interest rate for the account is 8.0% , compounded continuously.
How much will be in the account in exactly twenty years? (Nearest cent)
18. How long will it take for Lira's investment to double if the interest rate is
8.0% , compounded continuously? Write answer correct to the nearest hundredth
year.