24
practice examMultiple Choice

Practice Exam

Question 24 • Algebra II

An initial investment of 200 dollars is now valued at 350 dollars The annual interest rate is 8 percent compounded continuously. The equation 200 e raised to the 0 point 0 8 t power is equal to 350 represents the situation, where t is the number of years the money has been invested. About how long has the money been invested? Use a calculator and round your answer to the nearest whole number.

Answer
A
19 years
B
7 years
C
22 years
D
5 years
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An initial investment of 200 dollars is now…