6. $3,000.00 is deposited into a saving account that earns 1.5% interest compounded continuously. a. What is the formula for A(t), the balance after t years? b. What differential equation is satisfied by A(t), the balance after t years? c. How much money will be in the account after 10 years?

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
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6. $3,000.00 is deposited into a saving account that earns 1.5% interest compounded
continuously.
a. What is the formula for A(t), the balance after t years?
b. What differential equation is satisfied by A(t), the balance after t years?
c. How much money will be in the account after 10 years?
d. When will the balance reach $5,000.00?
e. How fast is the balance growing when it reaches $5,000.00?
Transcribed Image Text:6. $3,000.00 is deposited into a saving account that earns 1.5% interest compounded continuously. a. What is the formula for A(t), the balance after t years? b. What differential equation is satisfied by A(t), the balance after t years? c. How much money will be in the account after 10 years? d. When will the balance reach $5,000.00? e. How fast is the balance growing when it reaches $5,000.00?
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