The future value that accrues when $900 is invested at 9%, compounded continuously, is S(t) = 900e0.09t where t is the number of years. (Round your answers to the nearest cent.) (a) At what rate is the money in this account growing when t = 4? $ |per year (b) At what rate is it growing when t = 10? |per year 24
The future value that accrues when $900 is invested at 9%, compounded continuously, is S(t) = 900e0.09t where t is the number of years. (Round your answers to the nearest cent.) (a) At what rate is the money in this account growing when t = 4? $ |per year (b) At what rate is it growing when t = 10? |per year 24
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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Transcribed Image Text:The future value that accrues when $900 is invested at 9%, compounded continuously, is
S(t) = 900e0.09t
where t is the number of years. (Round your answers to the nearest cent.)
(a) At what rate is the money in this account growing when t = 4?
$
per year
(b) At what rate is it growing when t = 10?
2$
per year
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