1.) Kay invests $5,000 for years into an account compounded continuously at a rate of 4.5%. What is the balance after 6 years? 2.) Ted wants to triple his money. It is in an account that pays 5% interest compounded continuously. how long will it take to triple his money? 3.) Jose's' car depreciates at a rate of 12% per year. He bought his car three years ago for $25,000, how much is it worth today? 4.) Aneisha deposited $7,000 into an account paying 3.5% interest compounded semi-annually. If she leaves her money in the account for four years what would be her account BALANCE? (Balance – initial investment plus interest)

1.) Kay invests $5,000 for years into an account compounded continuously at a rate of 4.5%. What is the balance after 6 years? 2.) Ted wants to triple his money. It is in an account that pays 5% interest compounded continuously. how long will it take to triple his money? 3.) Jose's' car depreciates at a rate of 12% per year. He bought his car three years ago for $25,000, how much is it worth today? 4.) Aneisha deposited $7,000 into an account paying 3.5% interest compounded semi-annually. If she leaves her money in the account for four years what would be her account BALANCE? (Balance – initial investment plus interest)

Name: Looking for the answers & steps to see if I did everything correctly 1
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Description: Looking for the answers & steps to see if I did everything correctly 1.) Kay invests $5,000 for years into an account compounded continuously at a rate of 4.5%. What isthe balance after 6 years?2.) Ted wants to triple his money. It is in an account t

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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