nt Use the model A = Pe" or A = P|1+ , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. A $15,000 inheritance is invested for 5 years compounded quarterly and grows to $18,572. Find the interest rate. Round to the nearest percent. The interest rate is approximately %.
nt Use the model A = Pe" or A = P|1+ , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. A $15,000 inheritance is invested for 5 years compounded quarterly and grows to $18,572. Find the interest rate. Round to the nearest percent. The interest rate is approximately %.
Chapter10: Exponential And Logarithmic Functions
Section10.2: Evaluate And Graph Exponential Functions
Problem 10.31TI: Angela invested $15,000 in a savings account. If the interest rate is 4%, how much will be in the...
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