menu
bartleby
search
close search
Hit Return to see all results

Rateper year196Amount2%3%4%5906%

Question

An investment of $3000 is deposited into an account in which interest is compounded continuously. Complete the table by filling in the amounts to which the investment grows at the indicated interest rates. (Round your answers to the nearest cent.)

t = 4 years

 

Rate
per year
196
Amount
2%
3%
4%
590
6%
help_outline

Image Transcriptionclose

Rate per year 196 Amount 2% 3% 4% 590 6%

fullscreen
check_circleAnswer
Step 1

To calculate the value of the investment (amount) when the interest is calculated in the continuous model

Step 2

Formula for the cont...

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Our solutions are written by experts, many with advanced degrees, and available 24/7

See Solution
Tagged in

Math

Calculus

Other

Sorry about that. What wasn’t helpful?