If $1500 is invested at an interest rate of 6.5% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 2 years $ 1,708 (b) 4 years $1,945 (c) 12 years $ 3,272 X X

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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If $1500 is invested at an interest rate of 6.5% per year, compounded continuously, find the value of the investment after the
given number of years. (Round your answers to the nearest cent.)
(a) 2 years
$ 1,708
(b) 4 years
$ 1,945
(c) 12 years
$ 3,272
X
X
Transcribed Image Text:If $1500 is invested at an interest rate of 6.5% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 2 years $ 1,708 (b) 4 years $ 1,945 (c) 12 years $ 3,272 X X
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