4) Consider an investment of $6000 that earns 4.5% interest. A) Write an equation to describe the value V(t) of the investment at time t if the interest is compounded daily. B) What is the value of the investment after 15 years if the interest is compounded annually? C) How long would it take for the investment to reach $15,000 if the interest is compounded monthly? Round your answer to the nearest tenth. hol
4) Consider an investment of $6000 that earns 4.5% interest. A) Write an equation to describe the value V(t) of the investment at time t if the interest is compounded daily. B) What is the value of the investment after 15 years if the interest is compounded annually? C) How long would it take for the investment to reach $15,000 if the interest is compounded monthly? Round your answer to the nearest tenth. hol
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
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