Tessa invests $5600 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 8 years. Round to the nearest cent.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Tessa invests $5600 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 8 years. Round to the nearest cent. 

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The population of a certain inner-city area is estimated to be declining according to the model P(t)=218,000e−0.016tP(t)=218,000e−0.016t, where t is the number of years from the present. What does this model predict the population will be in 55 years? Round to the nearest person. 

 

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