11) Suppose that $6500 is invested at 4% for 3 years. Find the total amount present at the end of 3 years if the interest is compounded (a) monthly (b) continuously.

College Algebra
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ISBN:9781938168383
Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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11) Suppose that $6500 is invested at 4% for 3 years. Find the total amount present at the end of 3 years if the interest
is compounded (a) monthly (b) continuously.
Transcribed Image Text:11) Suppose that $6500 is invested at 4% for 3 years. Find the total amount present at the end of 3 years if the interest is compounded (a) monthly (b) continuously.
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