A large corporation starts at time t = 0 to invest part of its profit at a rate of P dollars per year in a fund for future expansion. Assume that the fund earns r percent interest per year compounded continuously. Therate of growth of the amount A in the fund is given bydA= rA + Pdtwhere A = 0 when t = 0, and r is in decimal form. Using the information above,A(t) = 2(ort – 1).Use the result to find t if the corporation needs $750,000 and it can invest $75,000 per year in a fund earning 5% interest compounded continuously. (Round your answer to two decimal places.)t =years

In the formula : At=Prert-1 P is the amount invested per year . r is the rate of interest…

A large corporation starts at time t = 0 to invest part of its profit at a rate of P dollars rate of growth of the amount A in the fund is given by year in a fund for future expansion. Assume that the fund earns r percent interest per year compounded continuously. The dA = rA + P dt where A = 0 when t = 0, and r is in decimal form. Using the information above, A(t) = Use the result to find t if the corporation needs $750,000 and it can invest $75,000 per year in a fund earning 5% interest compounded continuously. (Round your answer to two decimal places.) t = years

A large corporation starts at time t = 0 to invest part of its profit at a rate of P dollars rate of growth of the amount A in the fund is given by year in a fund for future expansion. Assume that the fund earns r percent interest per year compounded continuously. The dA = rA + P dt where A = 0 when t = 0, and r is in decimal form. Using the information above, A(t) = Use the result to find t if the corporation needs $750,000 and it can invest $75,000 per year in a fund earning 5% interest compounded continuously. (Round your answer to two decimal places.) t = years

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...

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