$1800 is invested in an account with an APR of 7.5%. a. If the interest is compounded continuously, what is the account value after 3 years? $ Preview b. Based on your answer to part (a), how much interest is earned over this time period (in dollars)? $ Preview Submit

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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$1800 is invested in an account with an APR of 7.5%.
a. If the interest is compounded continuously, what
is the account value after 3 years?
2$
Preview
b. Based on your answer to part (a), how much
interest is earned over this time period (in
dollars)?
2$
Preview
Submit
Transcribed Image Text:$1800 is invested in an account with an APR of 7.5%. a. If the interest is compounded continuously, what is the account value after 3 years? 2$ Preview b. Based on your answer to part (a), how much interest is earned over this time period (in dollars)? 2$ Preview Submit
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