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# A man with ​\$30 ,000 to invest decides to diversify his investments by placing ​\$15,000 in an account that earns 6.2​% compounded continuously and ​\$15,000 in

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A man with ​\$30 ,000 to invest decides to diversify his investments by placing ​\$15,000 in an account that earns 6.2​% compounded continuously and ​\$15,000 in an account that earns 7.4​% compounded annually. Use graphical approximation methods to determine how long it will take for his total investment in the two accounts to grow to ​\$45,000.

Guest Mar 4, 2017
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#1
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We are looking for the intersection of

y = 45000         and

y = 15000 [ (1.074)^t  + e^(.062t) ]

Here's a graph : https://www.desmos.com/calculator/zmejtzneea

The time is about 6 years....

CPhill  Mar 4, 2017
#2
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Algebraic solution of your problem gives the number of years as =6.07329856042 years.

Guest Mar 5, 2017

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