15. Suppose that an amount Po, in dollars, is invested with interest compounded continuously at 4.5% per year. dP The balance P grows at a rate: = 0.045P. dt Find the function that satisfies the equation. What is the balance if $50 is invested after 2 years? 16. In what period of time will your investment triple?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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15. Suppose that an amount Po, in dollars, is invested with interest compounded continuously at 4.5% per year.
dP
The balance P grows at a rate:
= 0.045P.
dt
Find the function that satisfies the equation. What is the balance if $50 is invested after 2 years?
16. In what period of time will your investment triple?
Transcribed Image Text:15. Suppose that an amount Po, in dollars, is invested with interest compounded continuously at 4.5% per year. dP The balance P grows at a rate: = 0.045P. dt Find the function that satisfies the equation. What is the balance if $50 is invested after 2 years? 16. In what period of time will your investment triple?
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