Suppose that 1000 is invested in a savings account in which interest is compounded continuously at 7% per year. A.Find P(t) that shows the balance in the account after t years. B. What is the balance in the account when t= 4 years? C.How many years will it take the investment to reach $1500?
Suppose that 1000 is invested in a savings account in which interest is compounded continuously at 7% per year. A.Find P(t) that shows the balance in the account after t years. B. What is the balance in the account when t= 4 years? C.How many years will it take the investment to reach $1500?
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CT: Chapter Test
Problem 11CT
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Suppose that 1000 is invested in a savings account in which interest is compounded continuously at 7% per year.
A.Find P(t) that shows the balance in the account after t years.
B. What is the balance in the account when t= 4 years?
C.How many years will it take the investment to reach $1500?
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