$8,000 is invested in an account earning 8.7% interest (APR), compounded continuously. Write a function showing the value of the account after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.8: Transforming Exponential Expressions
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Write Function/ Find % Change (Type 1)
May 16, 2:48:23 PM
$8,000 is invested in an account earning 8.7% interest (APR), compounded
continuously. Write a function showing the value of the account after t years, where
the annual growth rate can be found from a constant in the function. Round all
coefficients in the function to four decimal places. Also, determine the percentage of
growth per year (APY), to the nearest hundredth of a percent.
Function: f(t)
Growth
% increase per year
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attempt 2 out of 2
Growth
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Transcribed Image Text:Write Function/ Find % Change (Type 1) May 16, 2:48:23 PM $8,000 is invested in an account earning 8.7% interest (APR), compounded continuously. Write a function showing the value of the account after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent. Function: f(t) Growth % increase per year Submit Answer attempt 2 out of 2 Growth Decay Privacy Policy Terms of Service AILDiabte Doconund Conuright 2 032DoItAMath.com 36% P Type here to search 立
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