If an amount P is invested in the Mandelbrot Bond Fund and interest is compounded continuously at 6.2% per year, dP the balance P grows at the rate given by dt = 0.062P. a) Find the function that satisfies the equation. Write it in terms of P and 0.062. b) Suppose that $500 is invested. What is the balance after 1 year? After 2 years? c) What is the rate of change of the balance after 1 year? After 2 years? a) P(t) = b) The balance after 1 year is $. The balance after 2 years is $. (Type integers or decimals rounded to two decimal places as needed.) c) The rate of change of the balance after 1 year is years is (Type integers or decimals rounded to two decimal places as needed.) yrs / $ ar $ /ar The rate of change of the balance after 2

If an amount P is invested in the Mandelbrot Bond Fund and interest is compounded continuously at 6.2% per year, dP the balance P grows at the rate given by dt = 0.062P. a) Find the function that satisfies the equation. Write it in terms of P and 0.062. b) Suppose that $500 is invested. What is the balance after 1 year? After 2 years? c) What is the rate of change of the balance after 1 year? After 2 years? a) P(t) = b) The balance after 1 year is $. The balance after 2 years is $. (Type integers or decimals rounded to two decimal places as needed.) c) The rate of change of the balance after 1 year is years is (Type integers or decimals rounded to two decimal places as needed.) yrs / $ ar $ /ar The rate of change of the balance after 2

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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