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ind a formula for the value of the account at time t. Express numbers in exact form. Use symbolic notation and fractions where needed. Let y = P(t) and give the equation in terms Ey and t.) equation: /hat is the value of the account after 3 years? Jse decimal notation. Give your answer to the nearest cent.) value: dollar(s)

ind a formula for the value of the account at time t. Express numbers in exact form. Use symbolic notation and fractions where needed. Let y = P(t) and give the equation in terms Ey and t.) equation: /hat is the value of the account after 3 years? Jse decimal notation. Give your answer to the nearest cent.) value: dollar(s)

College Algebra
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 11T: Suppose that $12,000 is invested in a saving account paying 5.6% interest per year. (a)Write the...
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Suppose $450 is deposited into an account paying interest at a rate of 8%, continuously compounded. Find a formula for the value of the account at time t. (Express numbers in exact form. Use symbolic notation and fractions where needed. Let y = P(t) and give the equation in terms of y and t.) equation: What is the value of the account after 3 years? (Use decimal notation. Give your answer to the nearest cent.) value: dollar(s)
Transcribed Image Text:Suppose $450 is deposited into an account paying interest at a rate of 8%, continuously compounded. Find a formula for the value of the account at time t. (Express numbers in exact form. Use symbolic notation and fractions where needed. Let y = P(t) and give the equation in terms of y and t.) equation: What is the value of the account after 3 years? (Use decimal notation. Give your answer to the nearest cent.) value: dollar(s)
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