3. Determine the balance A for $7,000 invested at a rate of 4.5% for 20 years, compounded a. Monthly b. Continuously

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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3. Determine the balance A for $7,000 invested at a rate of 4.5% for 20 years, compounded
a. Monthly
b. Continuously
Transcribed Image Text:3. Determine the balance A for $7,000 invested at a rate of 4.5% for 20 years, compounded a. Monthly b. Continuously
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