Answered: pose Find the exponential function that…

pose Find the exponential function that describes the amount in the account after time t, in year: What is the balance after 1 year? 2 years? 5 years? 10 years? What is the doubling time?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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Question

Suppose that $18,982 is invested at an interest rate of 5.6% per year, compounded continuously
a) Find the exponential function that describes the amount in the account after time t, in years.
b) What is the balance after 1 year? 2 years? 5 years? 10 years?
c) What is the doubling time?

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