A woman invests $6500 in an account that pays 6% interest per year, compounded continuously. (a) What is the amount after 2 years? (Round your answer to the nearest cent.) $ (b) How long will it take for the amount to be $11,000? (Round your answer to two decimal places.) yr (c.) How long will it take for the initial amount to double?
A woman invests $6500 in an account that pays 6% interest per year, compounded continuously. (a) What is the amount after 2 years? (Round your answer to the nearest cent.) $ (b) How long will it take for the amount to be $11,000? (Round your answer to two decimal places.) yr (c.) How long will it take for the initial amount to double?
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.CT: Chapter Test
Problem 11CT
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