Answer:
Gavin will have to invest his money for 20 years to reach that sum of money.
Step-by-step explanation:
Given that Gavin invested $ 350 in an account paying an interest rate of 4.7% compounded continuously, assuming no deposits or withdrawals are made, to determine how long would it take to the nearest tenth of a year for the value of the account to reach $ 890 se you must perform the following calculation:
890 = 350 x (1 + 0.047 / 365) ^ X x 365
X = 20
Thus, Gavin will have to invest his money for 20 years to reach that sum of money.
