A business deposits $35,000 in a fund that pays 3% interest, compounded continuously. Write an equation that can be used to determine the balance A after a period of t years, where A is measured in dollars. A = Determine the balance (in dollars) in this account after 27 years. (Round your answer to the nearest cent.)

A business deposits $35,000 in a fund that pays 3% interest, compounded continuously. Write an equation that can be used to determine the balance A after a period of t years, where A is measured in dollars. A = Determine the balance (in dollars) in this account after 27 years. (Round your answer to the nearest cent.)

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section5.4: Exponential And Logarithmic Equations

Problem 10ECP: You invest $500 at an annual interest rate of 5.25, compounded continuously. How long will it take...

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