=P ( 1 + 2 ) " ₁ ~ , where A is the future value of P dollars invested at interest rate compounded continuously or n times per year Use the model A = Pe' or A=P 1+ for / years. An $8000 investment grows to $9861.69 at 3% interest compounded quarterly. For how long was the money invested? Round to the nearest year. The money was invested for approximately years. X 3
=P ( 1 + 2 ) " ₁ ~ , where A is the future value of P dollars invested at interest rate compounded continuously or n times per year Use the model A = Pe' or A=P 1+ for / years. An $8000 investment grows to $9861.69 at 3% interest compounded quarterly. For how long was the money invested? Round to the nearest year. The money was invested for approximately years. X 3
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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Transcribed Image Text:nt
P (1+1) "1"
Use the model A = Pe" or A= P1+
for t years.
where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year
An $8000 investment grows to $9861.69 at 3% interest compounded quarterly. For how long was the money invested? Round to the nearest year.
The money was invested for approximately
years.
X
S
00
E
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