Answer part (d) Suppose that you borrow $10,000 at 2% APR and that interest is compounded continuously. The equation of change for your account balance B = B(t) isdB= 0.02B.dtHere t is the number of years since the account was opened, and B is measured in dollars.(a) Explain why B is an exponential function.O The equation of change isdf= erx where r is a constant.dxdf= rex wherer is a constant.dxO The equation of change isdfO The equation of change isdx1where r is a constant.df= rf wherer is a constant.dxO The equation of change isdf= r where r is a constant.dxThe equation of change is(b) Find a formula for B using the alternative form for exponential functions.B = 10000e.02t(c) Find a formula for B using the standard form for exponential functions. (Round the growth factor to three decimal places.)B = 10000 · 1.02'(d) Assuming that no payments are made, use your formula from part (b) to determine how long it would take for your account balance to double. (Round your answer to two decimalplaces.)years

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Description: Answer part (d) Suppose that you borrow $10,000 at 2% APR and that interest is compounded continuously. The equation of change for your account balance B = B(t) isdB= 0.02B.dtHere t is the number of years since the account was opened, and B is measur

In the question we have to find number of years it will take for the amount to double.

Answered: (d) Assuming that no payments are made,…

Math

Algebra

(d) Assuming that no payments are made, use your formula from part (b) to determine how long it would take for your account balance to double. (Round your answer to two decimal places.) X years

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section5.5: Exponential And Logarithmic Models

Problem 30E: The table shows the mid-year populations (in millions) of five countries in 2015 and the projected...

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