Suppose that Po is invested in a savings account in which interest is compounded continuously at 6.3% per year. That is, the balance P grows at the rate given by the following equation. dP = 0.063P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.063. (b)Suppose that $500 is invested. What is the balance after 1 years? (c)When will an investment of $500 double itself? ..... (a) Choose the correct answer below. A. P(t)=Poe 0.0631 B. P(t) 0.063P et OC. P(t)=P(t)e 0.063t D. P = P(t) e 0.063t (b) The balance after 1 year is $ (Type an integer or decimal rounded to two decimal places as needed)
Suppose that Po is invested in a savings account in which interest is compounded continuously at 6.3% per year. That is, the balance P grows at the rate given by the following equation. dP = 0.063P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.063. (b)Suppose that $500 is invested. What is the balance after 1 years? (c)When will an investment of $500 double itself? ..... (a) Choose the correct answer below. A. P(t)=Poe 0.0631 B. P(t) 0.063P et OC. P(t)=P(t)e 0.063t D. P = P(t) e 0.063t (b) The balance after 1 year is $ (Type an integer or decimal rounded to two decimal places as needed)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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Transcribed Image Text:Suppose that Po is invested in a savings account in which interest is compounded continuously at 6.3% per year. That is, the balance P grows at the rate given by
the following equation.
dP
= 0.063P(t)
dt
(a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.063.
(b)Suppose that $500 is invested. What is the balance after 1 years?
(c)When will an investment of $500 double itself?
(a) Choose the correct answer below.
А.
0.063t
P(t)=Poe
B. P(t)=0.063P et
ⒸC. P(t)=P(t) 0.063t
D.
Po=P(t) e 0.063t
(b) The balance after 1 year is $
(Type an integer or decimal rounded to two decimal places as needed)
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