If $7000 is invested at 3% compounded continuously, what is the amount after 6 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A.
If $7000 is invested at 3% compounded continuously, what is the amount after 6 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 13CC
Related questions
Question
If $7000 is invested at 3% compounded continuously, what is the amount after 6 years?
Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice.
A=P(1+i)n,
with
P=enter your response here,
i=enter your response here,
and
n=enter your response here
A=P(1+rt),
with
P=enter your response here,
r=enter your response here,
and
t=enter your response here
A=Pert,
with
P=enter your response here,
r=enter your response here,
and
t=enter your response here
Part 2
The amount after 6 years will be
$enter your response here.
(Round to the nearest cent.)
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