An initial investment amound P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a)annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. 9. P=$1500, r=3.15%, t=4 yr
An initial investment amound P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a)annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. 9. P=$1500, r=3.15%, t=4 yr
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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An initial investment amound P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a)annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate.
9. P=$1500, r=3.15%, t=4 yr
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