Answered: Find the compound amount and compound…

Find the compound amount and compound interest if $4000 is invested for nine years and interest is compounded continuously at the annual rate 5 3/4%.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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Find the compound amount and compound interest if $4000 is invested for nine years and interest is compounded continuously at the annual rate 5 3/4%.

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